S 1994
110th Congress
Senate
Taxation
Agriculture and Food
Estate tax
Families
Family farms
Farm lands
Land transfers
Public Lands and Natural Resources
Tax exclusion
A bill to amend the Internal Revenue Code of 1986 to exempt certain farmland from the estate tax.
Introduced: August 3, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 3, 2007
Read twice and referred to the Committee on Finance.
Aug 3, 2007
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to exclude from the gross estate of a decedent the value of farmland used by an heir of the decedent for farming purposes. Imposes a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use it for farming purposes.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1