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HR 5134 110th Congress House Taxation Agriculture and Food Capital gains tax Families Family farms Farm lands Income tax Land transfers Land use Public Lands and Natural Resources Tax exclusion

Beginning Farmers and Ranchers Act of 2007

Introduced: January 23, 2008 See on congress.gov
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 23, 2008
Referred to the House Committee on Ways and Means.
Jan 23, 2008
Introduced in House
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 Plain-English summary Congressional Research Service

Beginning Farmers and Ranchers Act of 2007 [sic] - Amends the Internal Revenue Code to exclude from gross income 100% of the gain, up to $500,000, from the sale of qualified farm property to a first-time farmer who certifies that such property will be used for farming purposes for 10 years. Allows: (1) a 50% exclusion for the sale of qualified farm property to any other person who certifies that such property will be used for farming purposes for 10 years; and (2) a 25% exclusion for the sale of qualified farm property to any other person for any other use.

Defines "qualified farm property" as real property located in the United States which is used for farming purposes for a specified three-year period and in which there was material participation by the taxpayer or the taxpayer's spouse or family member. Requires the recapture of tax benefits if qualified farm property is sold or ceases operation as a farm before the required 10-year period.

What's happening now January 23, 2008

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • S 2637 Related bill Beginning Farmers and Ranchers Act of 2008
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Democratic 1 Republican 5
R
Smith, Adrian
Nebraska · Feb 25, 2008
 D
Bishop, Sanford D.
Georgia · Jan 23, 2008
 R
Boozman, John
Arkansas · Jan 23, 2008
 R
Graves, Sam
Missouri · Jan 23, 2008
 R
McCaul, Michael T.
Texas · Jan 23, 2008
 R
Simpson, Michael K.
Idaho · Jan 23, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5134: Beginning Farmers and Ranchers Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-5134/
MLA
"H.R. 5134: Beginning Farmers and Ranchers Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-5134/.
Bluebook (legal)
H.R. 5134, 110th Cong. (2026), https://openamerica.io/bill/110-HR-5134/.
Markdown link
[H.R. 5134: Beginning Farmers and Ranchers Act of 2007](https://openamerica.io/bill/110-HR-5134/)
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