HR 294
107th Congress
House
Taxation
Agriculture and Food
Capital gains tax
Families
Family farms
Farm income
Farm lands
Income tax
Land transfers
Personal income tax
Public Lands and Natural Resources
Tax exclusion
Farmland Capital Gains Equity Act of 2001
Introduced: January 30, 2001
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 30, 2001
Referred to the House Committee on Ways and Means.
Jan 30, 2001
Sponsor introductory remarks on measure. (CR H79)
Jan 30, 2001
Introduced in House
Plain-English summary
Farmland Capital Gains Equity Act of 2001 - Amends the Internal Revenue Code to provide an exclusion from gross income of gain from the sale of qualified farm property similar to the exclusion of gain on the sale of a principal residence. Excludes from gross income up to $500,000 ($250,000 in the case of a married individual filing a separate return), reduced by the aggregate amount of gain excluded for all preceding taxable years.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1