Micro-grants for food security excluded from gross income

(a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new subsection: 139M. Micro-grants for food security (a) In general In the case of an eligible entity (as defined in subsection (b)(1) of section 4206 of the Agriculture Improvement Act of 2018 (7 U.S.C. 7518)), gross income shall not include any subgrant or other financial assistance received by such eligible entity under such section of such Act.. (b) Clerical amendment The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item related to section 139L the following new item: Sec. 139M. Micro-grants for food security.. (c) Effective date The amendments made by this section shall apply to amounts received in taxable years beginning after the date of enactment of this Act.