2016 California Code
Revenue and Taxation Code - RTC
DIVISION 2 - OTHER TAXES
PART 10 - PERSONAL INCOME TAX
CHAPTER 6 - Accounting Periods and Methods of Accounting
Section 17559.
17559. (a) Section 451(e) of the Internal Revenue Code, relating to special rule for proceeds from livestock sold on account of drought, is modified by substituting the phrase drought, flood, or other weather-related conditions, and that those conditions in lieu of the phrase drought conditions, and that these drought conditions 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.
(Amended (as added by Stats. 1998, Ch. 7) by Stats. 1998, Ch. 322, Sec. 30. Effective August 20, 1998.)
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