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United States · Bill · HR

H.R. 2034 (109th)

Beginning Farmers and Ranchers Act of 2005

referredUnited States· United States Congress· EN

Introduced

28 April 2005

Last action

28 April 2005 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Terry, Lee [R-NE-2], Rep. Pomeroy, Earl [D-ND-At Large], Rep. Pence, Mike [R-IN-6], Rep. Hinojosa, Ruben [D-TX-15], Rep. Paul, Ron [R-TX-22], Rep. Towns, Edolphus [D-NY-11], Sanford Bishop, Sam Graves, Rep. Marshall, Jim [D-GA-8], Michael Simpson, RON KIND, David Scott, Rep. Kennedy, Mark R. [R-MN-6], Rep. Bartlett, Roscoe G. [R-MD-6], Rep. McHugh, John M. [R-NY-23], Steve King, Rep. Cannon, Chris [R-UT-3], Rep. Souder, Mark E. [R-IN-3], Rep. Osborne, Tom [R-NE-3], Rep. Walsh, James T. [R-NY-27], Tim Murphy, Rep. Herseth Sandlin, Stephanie [D-SD-At Large], Rep. Burton, Dan [R-IN-6], Rep. Johnson, Timothy V. [R-IL-15], Rep. Lewis, Ron [R-KY-2], Rep. Rehberg, Denny [R-MT-At Large], Rep. McCaul, Michael T. [R-TX-10], Rep. Boustany, Charles W., Jr. [R-LA-3], Rep. Otter, C. L. (Butch) [R-ID-1], Cathy Rodgers, Rep. Simmons, Rob [R-CT-2], Rep. Salazar, John T. [D-CO-3], Rep. Kuhl, John R. "Randy", Jr. [R-NY-29], Rep. Kingston, Jack [R-GA-1], Rep. Davis, Lincoln [D-TN-4], Stevan Pearce, Rep. Norwood, Charles W. [R-GA-10], Rep. Schwarz, John J.H. "Joe" [R-MI-7], Rep. Hastings, Doc [R-WA-4], Rep. Latham, Tom [R-IA-3], JOHN DUNCAN, Rep. Rahall, Nick J., II [D-WV-4], Rep. Reyes, Silvestre [D-TX-16], Rep. Davis, Geoff [R-KY-4], Rep. Ross, Mike [D-AR-4], Rep. Gordon, Bart [D-TN-6], John Boozman, Frank Lucas

Subjects

Agriculture, Taxation

Source updated

15 August 2025

Agriculture · Taxation

Official sourceDownload fileView documentsShare

Summary

Beginning Farmers and Ranchers Act of 2005 - Amends the Internal Revenue Code to exclude from gross income 100 percent of the gain, up to $500,000, from the sale of qualified farm property to a first-time farmer who certifies that such property will be used for farming purposes for ten years. Allows: (1) a 50 percent exclusion for the sale of qualified farm property to any other person who certifies that such property will be used for farming purposes for ten years; and (2) a 25 percent exclusion for the sale of qualified farm property to any other person for any other use. Defines "qualified farm property" as real property located in the United States which is used for farming purposes for a specified three-year period and in which there was material participation by the taxpayer or the taxpayer's spouse or family member. Requires the recapture of tax benefits if qualified farm property is sold or ceases operation as a farm before the required ten-year period.

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

Timeline

  1. 28 April 2005

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 28 April 2005

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 28 April 2005

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

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Related records

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Sources

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