A bill to amend the Internal Revenue Code, in order to protect farm property from estate taxation based upon its valuation for nonfarm use.
Farm Property Estate Tax Valuation Act - Provides that the value of real property used in farming by the decedent, included in the gross estate for estate tax purposes under the Internal Revenue Code of 1954, shall be the value of such property for farming purposes, if the executor agrees to the provisions of this Act.
Referred to House Committee on Ways and Means.
Introduced in Senate
Referred to Senate Committee on Finance.
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