26 U.S.C. § 45O — Agricultural chemicals security credit

(a) In general For the general business credit, an "eligible agricultural business" gets a credit equal to 30 percent of its qualified chemical security spending (as subsection (d) defines it) for the year. (b) Facility limitation The credit for any one facility, for any one year, can't be more than $100,000 minus whatever credits that same facility already got under subsection (a) in the previous 5 tax years. (c) Annual limitation No taxpayer can claim more than $2,000,000 of this credit in any one year, no matter how many facilities it has. (d) Qualified chemical security expenditure This means money an eligible agricultural business paid or spent during the year for: (1) training employees on security and running background checks; (2) limiting and preventing access to the controls for stored farm chemicals; (3) tagging and locking tank valves, or adding chemicals that stop the farm chemicals from being stolen or used illegally; (4) protecting the perimeter around the farm chemicals; (5) installing security lighting, cameras, recording equipment, and intrusion sensors; (6) improving computer or network security; (7) doing a security vulnerability assessment; (8) putting a site security plan in place; and (9) any other protective measure the Secretary identifies by regulation. Only spending that's actually for protecting these specified chemicals counts. (e) Eligible agricultural business This means anyone in the business of either (1) retailing farm products, including specified agricultural chemicals, mainly to farmers and ranchers, or (2) manufacturing, formulating, distributing, or aerially applying specified agricultural chemicals. (f) Specified agricultural chemical This means: (1) any fertilizer commonly used in farming that's listed under specific federal chemical-hazard rules — the Emergency Planning and Community Right-to-Know Act section 302(a)(2), section 101 of part 172 of title 49 of the Code of Federal Regulations, or part 126, 127, or 154 of title 33 of the Code of Federal Regulations; and (2) any pesticide, as the Federal Insecticide, Fungicide, and Rodenticide Act defines it, including all its active and inert ingredients, that's normally used on crops grown for food, feed, or fiber. (g) Controlled groups Rules like those in section 41(f)(1) and (2) — for combining related companies — apply here too. (h) Regulations The Secretary may write regulations needed for this section, including rules on how to properly treat spending that's partly for protecting chemicals and partly for something else, and rules for treating related properties as one single facility for the $100,000 cap in subsection (b). (i) Termination This credit does not apply to any amount paid or spent after December 31, 2012.