Regulacje i polityka gospodarcza · 27/09/1996

New York State Agricultural Nonpoint Sources Abatement and Control Matching Grant Program, Determination of Primary Purpose of Program Payments for Consideration as Excludable From Income Under Section 126 of the Internal Revenue Code of 1954

The Secretary of Agriculture has determined that all cost- share payments awarded to individuals by the New York State Soil and Water Conservation Committee through participating county soil and water conservation districts under the State Agricultural Nonpoint Source Abatement and Control Matching Grant Program have been made primarily for the purpose of soil and water conservation, protecting or restoring the environment, and improving the quality of water in priority waterbodies of the State. This determination is made in accordance with Section 126 of the Internal Revenue Code of 1954, as amended, 26 U.S.C. 126. The determination permits recipients of these cost-share payments to exclude them from gross income to the extent allowed by the Internal Revenue Service.