H.R. 3251 — To amend the Internal Revenue Code of 1986 to expand the applicability of the first-time farmer exception.

Summary

Amends the Internal Revenue Code to treat the acquisition by a first-time farmer of land or personal property from a related person as not being an acquisition from a related person. Modifies the definition of "substantial farmland."

Full Text

Related Legislation

S. 1674A bill to amend the Internal Revenue Code of 1986 to expand the applicability of the first-time farmer exception.
1996-04-16Read twice and referred to the Committee on Finance.
Related

Legislative Actions

1996-04-16
Introduced in House
1996-04-16
Introduced in House
1996-04-16
Referred to the House Committee on Ways and Means.

To amend the Internal Revenue Code of 1986 to expand the applicability of the first-time farmer exception.

Sponsors

Subjects

Summary

Full Text

Related Legislation

Legislative Actions

Ask about this bill