Section 1 Short title
This Act may be cited as the “Grow Your Own Food Act”.
Grow Your Own Food Act
A BILL
To amend the Agriculture Improvement Act of 2018 with respect to micro-grants for food security.
Sec. 2 Micro-grants for food security
in subsection (d)(3), in the matter preceding subparagraph (A), by striking “3 percent” and inserting “6 percent”;
in subsection (e)(1)(A)—
in clause (i), by striking “$5,000” and inserting “$10,000”; and
in clause (ii), by striking “$10,000” and inserting “$15,000”; and
in subsection (g)(1), by striking “fiscal year 2019 and” inserting “each of fiscal years 2019 through 2023, and $30,000,000 for”.
Exclusion from gross income—
In general— Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section:
“139J. Micro-grants for food security
“(a) In general—In the case of any eligible entity (as defined in section 4206 of the Agricultural Improvement Act of 2018 (7 U.S.C. 7518)), gross income shall not include the amount of any subgrant received under such section.
“(b) Deductions, etc., allowed—No deduction shall be denied, no tax attribute shall be reduced, and no basis increase shall be denied, by reason of the exclusion from gross income provided by subsection (a).”
Clerical amendment— The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 139I the following new item:
Effective date— The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.