HR 4937
118th Congress
House
Taxation
Preserving Family Farms Act of 2023
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 26, 2023
Referred to the House Committee on Ways and Means.
Jul 26, 2023
Introduced in House
Plain-English summary
Preserving Family Farms Act of 2023
This bill amends the Internal Revenue Code to increase to $13 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 2023.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1