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HR 294 107th Congress House

Farmland Capital Gains Equity Act of 2001

Official title: To amend the Internal Revenue Code of 1986 to provide an exclusion for gain from the sale of farmland which is similar to the exclusion from gain on the sale of a principal residence.

Introduced: September 5, 2002 See on congress.gov
Taxation Agriculture and FoodCapital gains taxFamiliesFamily farms
More subjectsShow fewer subjects
Farm incomeFarm landsIncome taxLand transfersPersonal income taxPublic Lands and Natural ResourcesTax exclusion
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action January 30, 2001

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
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.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Republican 2
R
Wilson, Joe
South Carolina · Sep 5, 2002
 R
Rogers, Harold
Kentucky · May 25, 2001
NETHERCUTT, GEORGE
· Mar 28, 2001
SMITH, NICK
· Feb 6, 2001
BEREUTER, DOUGLAS
· Jan 30, 2001
FROST, MARTIN
· Jan 30, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 294: Farmland Capital Gains Equity Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-HR-294/
MLA
"H.R. 294: Farmland Capital Gains Equity Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-294/.
Bluebook (legal)
H.R. 294, 107th Cong. (2026), https://openamerica.io/bill/107-HR-294/.
Markdown link
[H.R. 294: Farmland Capital Gains Equity Act of 2001](https://openamerica.io/bill/107-HR-294/)
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