To amend the Internal Revenue Code of 1986 to provide that the one-time exclusion of gain from sale of a principal residence shall apply to a portion of the farmland on which the residence is located.

Amends the Internal Revenue Code to allow a taxpayer to include up to 160 acres of farmland on which a residence is located in the one-time exclusion of gain from sale of a principal residence by an individual who has attained age 55.