HR 2370
117th Congress
House
Taxation
Farmland
Tax administration and collection, taxpayers
Transfer and inheritance taxes
Preserving Family Farms Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 5, 2021
Referred to the House Committee on Ways and Means.
Apr 5, 2021
Introduced in House
Plain-English summary
Preserving Family Farms Act of 2021
This bill increases to $11.7 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 2021.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1