A bill to amend the Internal Revenue Code of 1986 to provide that farm land adjoining a principal residence qualifies for the one-time exclusion of gain from sale of such residence.

Amends the Internal Revenue Code to provide that a principal residence includes adjoining farm land for purposes of the one-time exclusion of gain from the sale of a principal residence for individuals who have attained age 55, if such farm land is used by the taxpayer in the active conduct of the trade or business of farming.