US Congress House Bill 8717 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 9-0)
Status: Introduced on October 30 2020 - 25% progression, died in committee
Action: 2020-10-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Allows an investment tax credit through 2025 for 25% of the basis of each livestock processing facility property placed in service during the taxable year. The amount of the credit may not exceed $250,000 in any taxable year and is not available to taxpayers whose gross receipts exceed $100 million in a taxable year. The bill defines livestock processing facility as a facility that slaughters livestock (i.e., cattle, sheep, goats, bison, swine, and poultry) for processing into meat and meat products and participates in a meat and poultry inspection program, The facility must employ an average of fewer than 500 employees and include property used for the intake or storage of livestock, the disposal or management of livestock waste, or the packaging, handling, warehousing, or storage of meat products. The bill also allows a refundable income tax credit for the startup and organizational expenditures of livestock processing facilities.

FAIR Meat Packing Act Feed America by Incentivizing Rural Meat Packing Act

Rep. Jason Smith [R-MO]	Rep. Ann Wagner [R-MO]	Rep. Vicky Hartzler [R-MO]	Rep. Blaine Luetkemeyer [R-MO]
Rep. Sam Graves [R-MO]	Rep. Billy Long [R-MO]	Rep. Dusty Johnson [R-SD]	Rep. James Hagedorn [R-MN]
Rep. Eric Crawford [R-AR]

Date	Chamber	Action
2020-10-30	House	Referred to the House Committee on Ways and Means.
2020-10-30	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/8717/all-info
Text	https://www.congress.gov/116/bills/hr8717/BILLS-116hr8717ih.pdf