- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Ways and MeansIntroducedJuly 31st, 2009
- house Committees
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Family Farm Preservation and Conservation Estate Tax Act
To amend the Internal Revenue Code of 1986 to provide an exclusion from the gross estate for certain farmlands and lands subject to qualified conservation easements, and for other purposes.
Family Farm Preservation and Conservation Estate Tax Act - Amends the Internal Revenue Code to: (1) exclude from the gross estate the value of property used by a decedent and the decedent's family as a farm for farming purposes and certain qualified conservation easements; and (2) impose a recapture tax if such farmland is sold outside the decedent's family or is no longer used for farming purposes or if a qualified conservation easement is likewise sold or used in violation of the terms of such easement.