Family Farm Protection Act

Summary

Family Farm Protection Act - Amends the Internal Revenue Code to exclude from gross income any gain on the sale of a qualified family farm interest to a family member of the taxpayer. Requires the taxpayer (or a member of the taxpayer's family) to have participated materially in the farming business operation during the five years preceding the sale, and requires the family member purchasing the interest to participate materially during the five years following the sale. Provides for recapture of tax foregone because of the exclusion if during the five years following the sale: (1) the interest ceases to be used in a farming business; or (2) the purchasing family member fails to participate materially in the farming business.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 13 April 1999

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 13 April 1999

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 April 1999

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 April 1999

   Introduced

   Sponsor introductory remarks on measure. (CR E663-664)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 13 April 1999 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 April 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 13 April 1999

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 13 April 1999

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Green, Mark [R-WI-8] · R · Sponsor
• Rep. Terry, Lee [R-NE-2] · R · Sponsor
• Rep. Nussle, Jim [R-IA-2] · R · Sponsor
• Rep. Skeen, Joe [R-NM-2] · R · Sponsor
• Rep. Pombo, Richard W. [R-CA-11] · R · Sponsor
• Rep. Shows, Ronnie [D-MS-4] · D · Sponsor
• Rep. Metcalf, Jack [R-WA-2] · R · Sponsor
• Rep. Istook, Ernest J., Jr. [R-OK-5] · R · Sponsor
• Rep. Nethercutt, George R., Jr. [R-WA-5] · R · Sponsor
• Rep. Schaffer, Bob [R-CO-4] · R · Sponsor
• Rep. McHugh, John M. [R-NY-23] · R · Sponsor
• Rep. Hansen, James V. [R-UT-1] · R · Sponsor
• Rep. Emerson, Jo Ann [R-MO-8] · R · Sponsor
• Rep. Lipinski, William O. [D-IL-3] · D · Sponsor
• Rep. Ney, Robert W. [R-OH-18] · R · Sponsor
• Rep. Ryun, Jim [R-KS-2] · R · Sponsor
• Rep. Hill, Rick [R-MT-At Large] · R · Sponsor
• Rep. Ryan, Paul [R-WI-1] · R · Sponsor
• Rep. Petri, Thomas E. [R-WI-6] · R · Sponsor
• Rep. Sweeney, John E. [R-NY-20] · R · Sponsor
• Rep. Burton, Dan [R-IN-5] · R · Sponsor
• Rep. Gilman, Benjamin A. [R-NY-20] · R · Sponsor
• Rep. Hastings, Doc [R-WA-4] · R · Sponsor
• Rep. Hayes, Robin [R-NC-8] · R · Cosponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.