(a) Section 451(g) of the Internal Revenue Code, relating to special rule for proceeds from livestock sold on account of drought, is modified by substituting the phrase âdrought, flood, or other weather-related conditions, and that those conditionsâ in lieu of the phrase âdrought conditions, and that these drought conditionsâ contained therein. (b) This section shall apply to sales and exchanges after December 31, 1996. (c) This section shall not apply to taxable years beginning on or after January 1, 1998.
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