^^ William E. Nothdurft, State Innovations in 

 Agricultural Policymaking (Washington, D.C.: Council of 

 State Planning Agencies, 1985), pp. 32-33. 



60 



61 



62 

 34. 



63 



State Government News , p. 13. 



Ibid . 



State Innovations in Agricultural Policymaking , 



See Section 15-30-117, MCA. 



°^ See Montana Department of Revenue, A Report on 

 Tax-Shelter Farming , prepared for the Joint Interim 

 Subcommittee on Agricultural Problems (May 10, 1986), 

 pp. 4, 12. 



°^ Internal Revenue Code of 1954, § 165, amended by 

 the Tax Reform Act of 1986, Pub. L. No. 99-514, 

 100 Stat. 1085 (1986). The discussion that follows is 

 based on the law prior to enactment of the Tax Reform 

 Act of 1986. The Tax Reform Act had not been enacted at 

 the time Option #8 was studied. Therefore, some of the 

 discussion presented here may no longer apply. 



^^ See Internal Revenue Code of 1954, §§ 62, 165, 

 172, amended by Pub. L. No. 99-514, 100 Stat. 1085 

 (1986) . 



^^ A Report on Tax-Shelter Farming , p. 7. 



"° See generally U.S. Congress, Joint Economic 

 Committee, Taxes and Agriculture. Hearings Before the 

 Joint Economic Committee , 98th Cong., 2nd Sess. (1984); 

 U.S. Congress, Joint Economic Committee, The Effects of 

 Federal Income Tax Policy on U.S. Agriculture: A Study 

 Prepared for the Use of the Subcommittee on Agriculture 

 and Transportation , 98th Cong., 2nd Sess. (1984); U.S. 

 Congress, Joint Economic Committee, Tax Policies: 

 Implications for U.S. Agriculture. Hearings Before the 

 Subcommittee on Agriculture and Transportation , 

 99th Cong., 1st Sess. (1985). 



^^ See The Effects of Federal Income Tax Policy on 

 U.S. Agriculture , pp. 18-24. 



^^ Ibid . , pp. 5-17. See also A Report on 

 Tax-Shelter Farming , pp. 7-11. 



^^ The Effects of Federal Income Tax Policy on 

 U.S. Agriculture , pp. 25-30. 



112 



