Grown in America Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1707 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1707 To amend the Internal Revenue Code of 1986 to establish a tax credit to incentivize the purchase of American agricultural commodities. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 27, 2025 Mr. Kustoff (for himself, Mr. Costa, Mr. Alford, Mr. Rouzer, and Mr. Carey) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish a tax credit to incentivize the purchase of American agricultural commodities. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Grown in America Act of 2025''. SEC. 2. DOMESTICALLY PRODUCED AGRICULTURE CREDIT. (a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 45BB. DOMESTICALLY PRODUCED AGRICULTURE CREDIT. ``(a) In General.--For purposes of section 38, the domestically produced agriculture credit determined under this section for any taxable year is an amount equal to the lesser of-- ``(1)(A) the product of-- ``(B) 25 percent of the total agricultural input costs of such taxpayer with respect to such taxable year, multiplied by ``(C) the applicable percentage of the taxpayer for the taxable year, or ``(2) $100,000,000. ``(b) Definitions.--For purposes of this section-- ``(1) Applicable percentage.--For purposes of this section, the applicable percentage for a taxpayer for any taxable year is an amount (expressed as a percentage) equal to the quotient of-- ``(A) the domestic agricultural input costs of such taxpayer for such taxabl