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HR 390 112th Congress House Taxation Contracts and agency Farmland Land transfers Land use and conservation Transfer and inheritance taxes

Family Farm Preservation and Conservation Estate Tax Act

Introduced: January 20, 2011 Introduced by: Thompson, Mike Democratic · California See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 20, 2011
Referred to the House Committee on Ways and Means.
Jan 20, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Family Farm Preservation and Conservation Estate Tax Act - Amends the Internal Revenue Code to: (1) exclude from the gross estate the value of property used by a decedent and the decedent's family as a farm for farming purposes and certain qualified conservation easements; and (2) impose a recapture tax if such farmland is sold outside the decedent's family or is no longer used for farming purposes or if a qualified conservation easement is likewise sold or used in violation of the terms of such easement.

What's happening now January 20, 2011

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1