Agricultural Land Preservation Act of 1997

Summary

Agricultural Land Preservation Act of 1997 - Amends the Internal Revenue Code to exclude from the gross estate, if the executor so elects, the value of land subject to a qualified conservation easement, except for any debt-financed portion and reduced by any deduction taken under provisions relating to transfers for public, charitable, and religious use. Provides for the treatment of any retained development right. Adds references to such property to provisions controlling the basis of property acquired from a decedent. Prohibits treating the transfer by gift of land subject to a qualified conservation easement as a transfer of property by gift for purposes of provisions relating to gift taxes. Amends provisions relating to the valuation of certain farm and other real property to prohibit a qualified conservation contribution (as defined in provisions relating to charitable contributions) from being deemed a disposition unless it is subject to a conservation easement. Declares that, if property is otherwise qualified real property, being subject to a conservation easement does not disqualify it. Allows a contribution to be treated as exclusively for conservation purposes if the surface estate and mineral interests have been and remain separated (currently, if the surface estate and mineral interests were separated before June 13, 1976, and remain separated) and if the probability of surface mining is so remote as to be negligible.

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

Timeline

1. 3 June 1997

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 June 1997

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 June 1997

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 June 1997 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 June 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 June 1997

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 3 June 1997

  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. Gilchrest, Wayne T. [R-MD-1] · R · Sponsor
• Rep. Farr, Sam [D-CA-20] · D · Sponsor
• Rep. Morella, Constance A. [R-MD-8] · R · Sponsor
• Rep. Castle, Michael N. [R-DE-At Large] · R · Sponsor
• Rep. Towns, Edolphus [D-NY-10] · D · Sponsor
• Rep. Boehlert, Sherwood [R-NY-24] · R · Sponsor
• Rep. Fazio, Vic [D-CA-3] · D · Sponsor
• Rep. Ehlers, Vernon J. [R-MI-3] · R · Sponsor
• Rep. Gordon, Bart [D-TN-6] · D · Sponsor
• Rep. Woolsey, Lynn C. [D-CA-6] · D · Sponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Sponsor
• Rep. Taylor, Gene [D-MS-4] · D · Sponsor
• Rescom. Romero-Barcelo, Carlos A. [D-PR-At Large] · D · Sponsor
• Rep. Ney, Robert W. [R-OH-18] · R · Cosponsor
• Rep. Filner, Bob [D-CA-51] · D · Cosponsor
• Rep. Forbes, Michael P. [D-NY-1] · R · Cosponsor
• Rep. Franks, Bob [R-NJ-7] · R · Cosponsor
• Rep. Dellums, Ronald V. [D-CA-9] · D · Cosponsor
• Rep. Hooley, Darlene [D-OR-5] · D · Cosponsor
• Rep. Boucher, Rick [D-VA-9] · D · Cosponsor
• Rep. Capps, Walter [D-CA-22] · D · Cosponsor
• Rep. Lewis, John [D-GA-5] · D · Cosponsor
• Rep. Goodling, William F. [R-PA-19] · R · Cosponsor
• Rep. Holden, Tim [D-PA-17] · D · Cosponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Cosponsor
• Rep. Gilman, Benjamin A. [R-NY-20] · R · Cosponsor
• Rep. Lowey, Nita M. [D-NY-17] · D · Cosponsor
• Rep. Paul, Ron [R-TX-14] · R · Cosponsor
• Rep. Shays, Christopher [R-CT-4] · R · Cosponsor
• · hswm00 · Standing

Related records

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