HR 5259
116th Congress
House
Taxation
Farmland
Tax administration and collection, taxpayers
Transfer and inheritance taxes
Preserving Family Farms Act of 2019
Introduced: November 22, 2019
Introduced by:
Panetta, Jimmy
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 22, 2019
Referred to the House Committee on Ways and Means.
Nov 22, 2019
Introduced in House
Plain-English summary
Preserving Family Farms Act of 2019
This bill amends the Internal Revenue Code to increase to $11.4 million (currently, $750,000) the limitation on the special use valuation for farmland or other trades or businesses for estate tax purposes. The increased amount is adjusted for inflation for estates of decedents dying after 2019.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1