3.0.0 3077 2022-12-30T07:48:45Z 2023-01-01T23:48:37Z Senate S 2021-10-26 117 ssfi00 Finance Committee Senate Standing Referred to 2021-10-26T23:05:10Z Preserving Family Farms Act of 2021 117 2370 HR 2021-04-05 Referred to the House Committee on Ways and Means. Identical bill CRS 2021-10-26 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2021-10-26 Introduced in Senate IntroReferral 10000 9 Library of Congress C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV N Taxation Farmland Tax administration and collection, taxpayers Transfer and inheritance taxes Taxation 00 2021-10-26 Introduced in Senate 2021-12-17T16:54:19Z 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.

]]> Preserving Family Farms Act of 2021 Display Title Preserving Family Farms Act of 2021 Short Title(s) as Introduced Preserving Family Farms Act of 2021 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to increase the limitation on the estate tax valuation of certain real property used in farming or other trades or businesses. Introduced in Senate IS Introduced in Senate 2021-10-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s3077is/xml/BILLS-117s3077is.xml 2021-10-26 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.