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house Bill H.R. 47

Farmland Preservation and Land Conservation Act of 2013

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedJanuary 3rd, 2013

Bill Details

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Title

Farmland Preservation and Land Conservation Act of 2013

Official Title

To amend the Internal Revenue Code of 1986 to allow an unlimited exclusion from transfer taxes for certain farmland and land of conservation value, and for other purposes.

Summary

Farmland Preservation and Land Conservation Act of 2013- Amends the Internal Revenue Code to allow an estate and gift tax exclusion for real property located in the United States which at the time of a decedent's death was being used as a farm for farming purposes or exclusively for conservation purposes. Imposes: (1) an additional estate or gift tax with respect to such property if an heir or donee disposes of or uses such property for other than farming or conservation purposes, and (2) a federal tax lien on such property until liability for estate or gift tax with respect to such property has been satisfied or has become unenforceable.

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