- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedMarch 11th, 2009
- house Committees
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Family Farm Preservation Act of 2009
To amend the Internal Revenue Code of 1986 to exclude from gross income gain on the sale or exchange of farmland development rights.
Family Farm Preservation Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of qualified farmland development rights to a tax-exempt conservation organization. Defines "qualified farmland development rights" as a restriction limiting farmland to use as a farm for farming purposes or for exclusively conservation purposes.