Sec. 10308. Adjusted gross income limitation
Official source: Public Law 119-21, Section 10308 — 139 Stat. 92-93.
Section 1001D(b) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(b)) is amended—
(1) in paragraph (1), by striking “
paragraph (3)
” and inserting “
paragraphs (3) and (4)
”; and
(2) by adding at the end the following:
“(4) Exception for certain operations.—
“(A) Definitions.—
In this paragraph:
“(i) Excepted payment or benefit.—
The term ‘excepted payment or benefit’ means—
“(I) a payment or benefit under subtitle E of title I of the Agricultural Act of 2014 (7 U.S.C. 9081 et seq.);
“(II) a payment or benefit under section 196 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7333); and
“(III) a payment or benefit described in paragraph (2)(C) received on or after October 1, 2024.
“(ii) Farming, ranching, or silviculture activities.—
The term ‘farming, ranching, or silviculture activities’ includes agri-tourism, direct-to-consumer marketing of agricultural products, the sale of agricultural equipment owned by the person or legal entity, and other agriculture-related activities, as determined by the Secretary.
“(B) Exception.—
In the case of an excepted payment or benefit, the limitation established by paragraph (1) shall not apply to a person or legal entity during a crop, fiscal, or program year, as appropriate, if greater than or equal to 75 percent of the average gross income of the person or legal entity derives from farming, ranching, or silviculture activities.”
.