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USC Title 26 enacted through 2008

§ 45O. Agricultural chemicals security credit

In general
For purposes of section 38, in the case of an eligible agricultural business, the agricultural chemicals security credit determined under this section for the taxable year is 30 percent of the qualified security expenditures for the taxable year.
Facility limitation
The amount of the credit determined under subsection (a) with respect to any facility for any taxable year shall not exceed -
$100,000, reduced by
the aggregate amount of credits determined under subsection (a) with respect to such facility for the 5 prior taxable years.
Annual limitation
The amount of the credit determined under subsection (a) with respect to any taxpayer for any taxable year shall not exceed $2,000,000.
Qualified chemical security expenditure
For purposes of this section, the term "qualified chemical security expenditure" means, with respect to any eligible agricultural business for any taxable year, any amount paid or incurred by such business during such taxable year for -
employee security training and background checks,
limitation and prevention of access to controls of specified agricultural chemicals stored at the facility,
tagging, locking tank valves, and chemical additives to prevent the theft of specified agricultural chemicals or to render such chemicals unfit for illegal use,
protection of the perimeter of specified agricultural chemicals,
installation of security lighting, cameras, recording equipment, and intrusion detection sensors,
implementation of measures to increase computer or computer network security,
conducting a security vulnerability assessment,
implementing a site security plan, and
such other measures for the protection of specified agricultural chemicals as the Secretary may identify in regulation.
Amounts described in the preceding sentence shall be taken into account only to the extent that such amounts are paid or incurred for the purpose of protecting specified agricultural chemicals.
Eligible agricultural business
For purposes of this section, the term "eligible agricultural business" means any person in the trade or business of -
selling agricultural products, including specified agricultural chemicals, at retail predominantly to farmers and ranchers, or
manufacturing, formulating, distributing, or aerially applying specified agricultural chemicals.
Specified agricultural chemical
For purposes of this section, the term "specified agricultural chemical" means -
any fertilizer commonly used in agricultural operations which is listed under -
section 302(a)(2) of the Emergency Planning and Community Right-to-Know Act of 1986,
section 101 of part 172 of title 49, Code of Federal Regulations, or
part 126, 127, or 154 of title 33, Code of Federal Regulations, and
any pesticide (as defined in section 2(u) of the Federal Insecticide, Fungicide, and Rodenticide Act), including all active and inert ingredients thereof, which is customarily used on crops grown for food, feed, or fiber.
Controlled groups
Rules similar to the rules of paragraphs (1) and (2) of section 41(f) shall apply for purposes of this section.
The Secretary may prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section, including regulations which -
provide for the proper treatment of amounts which are paid or incurred for purpose of protecting any specified agricultural chemical and for other purposes, and
provide for the treatment of related properties as one facility for purposes of subsection (b).
This section shall not apply to any amount paid or incurred after December 31, 2012.

Tax Code (Internal Revenue Code) Section Index

U.S. GAAP by Codification Topic
105 GAAP Hierarchy
105 GAAP History

205 Presentation of Financial Statements
205-20 Discontinued Operations
210 Balance Sheet
210-20 Offsetting
220 Comprehensive Income
225 Income Statement
225-20 Extraordinary and Unusual Items
230 Statement of Cash Flows
250 Accounting Changes and Error Corrections
260 Earnings per Share
270 Interim Reporting

310 Impairment of a Loan
320 Investment Securities
320 Other-Than-Temporary Impairments, FSP FAS 115-2
320-10-05 Overview of Investments in Other Entities
320-10-35 Reclassification of Investments in Securities
323-10 Equity Method Investments
323-30 Investments in Partnerships and Joint Ventures
325-20 Cost Method Investments
330 Inventory

340-20 Capitalized Advertising Costs
350-20 Goodwill
350-30 Intangibles Other than Goodwill
350-40 Internal-Use Software
350-50 Website Development Costs
360 Property, Plant and Equipment
360-20 Real Estate Sales

410 Asset Retirement and Environmental Obligations
420 Exit or Disposal Cost Obligations
450 Contingencies
450-20 Loss Contingencies
450-30 Gain Contingencies
480 Redeemable Financial Instruments

505-20 Stock Dividends, Stock Splits
505-30 Treasury Stock

605 SEC Staff Accounting Bulletin, Topic 13
605-25 Revenue Recognition - Multiple Element Arrangements

715-30 Defined Benefit Plans - Pension
718 Share-Based Payment
730 Research and Development
730-20 Research and Development Arrangements

805 Business Combinations
810 Consolidation
810 Noncontrolling Interests
810 Consolidation of Variable Interest Entities, SFAS 167

815 Derivatives and Hedging Overview

820 Fair Value Measurements
820 Fair value when the markets are not active, FSP FAS 157-4
825 Fair Value Option

830 Foreign Currency Matters
830-20 Foreign Currency Transactions
830-30 Translation of Financial Statements
835 Interest
835-20 Capitalization of Interest
835-30 Imputation of Interest

840 Leases
840-20 Operating Leases
840-30 Capital Leases
840-40 Sale-Leaseback Transactions
845 Nonmonetary Transactions

855 Subsequent Events
860-20 Sale of Financial Assets, SFAS 166
860-50 Servicing Assets and Liabilities, SFAS 156

985-20 Costs of software to be sold

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