Emergency Citrus Disease Response Act of 2017 This bill amends the Internal Revenue Code to allow a full deduction in the current taxable year of the cost of replanting lost or damaged citrus plants. The taxpayer must own an equity interest of at least 50% in such replanted plants and may deduct costs paid or incurred through 2026.
Business investment and capitalForests, forestry, treesFruit and vegetablesHorticulture and plantsIncome tax deductions
To amend the Internal Revenue Code of 1986 to temporarily allow expensing of certain costs of replanting citrus plants lost by reason of casualty.
USA115th CongressHR-112| House
| Updated: 1/3/2017
Emergency Citrus Disease Response Act of 2017 This bill amends the Internal Revenue Code to allow a full deduction in the current taxable year of the cost of replanting lost or damaged citrus plants. The taxpayer must own an equity interest of at least 50% in such replanted plants and may deduct costs paid or incurred through 2026.