HOUSE 2370117th CongressReferred to the House Committee on Ways and Means.
Preserving Family Farms Act of 2021
- Last Action
- 4/5/2021
Actions
- 2021-04-05Referred to the House Committee on Ways and Means.
- 2021-04-05Introduced in House
- 2021-04-05Introduced in House
CRS Summary
As of 2021-04-05 (00)
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.
Cosponsors (8)
- Jackie Walorski (R-IN)
- Henry Cuellar (D-TX)
- Jodey Arrington (R-TX)
- Darren Soto (D-FL)
- Terri Sewell (D-AL)
- Doug LaMalfa (R-CA)
- Bryan Steil (R-WI)
- Lance Gooden (R-TX)
Subjects
- Farmland
- Tax administration and collection, taxpayers
- Transfer and inheritance taxes
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.