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United States · Bill · HR

H.R. 3720 (96th)

A bill to amend the Internal Revenue Code of 1954 to exempt certain farm property from the estate tax.

referredUnited States· United States Congress· EN

Introduced

25 April 1979

Last action

25 April 1979 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Panetta, Leon [D-CA-16], Rep. Mineta, Norman Y. [D-CA-15], Rep. Whitehurst, G. William [R-VA-2], Rep. Jones, Walter B. [D-NC-1], Rep. Coelho, Anthony Lee [D-CA-15], Sen. Lott, Trent [R-MS], Rep. Skelton, Ike [D-MO-4], Sen. Jeffords, James M. [I-VT], Rep. McCloskey, Paul N., Jr. [R-CA-12], Rep. Daniel, Robert W., Jr. [R-VA-4], Rep. Yatron, Gus [D-PA-6], Rep. Derwinski, Edward J. [R-IL-4], Rep. Downey, Thomas J. [D-NY-2], Rep. Kindness, Thomas N. [R-OH-8], Rep. Kogovsek, Ray [D-CO-3], Rep. Fazio, Vic [D-CA-3], Rep. Mathis, Dawson [D-GA-2], Rep. Santini, James D. [D-NV-98], Rep. Huckaby, Thomas J. (Jerry) [D-LA-5], Rep. Burgener, Clair W. [R-CA-43], Rep. Ginn, Bo [D-GA-1], Rep. Wolpe, Howard E. [D-MI-3], Rep. Evans, Billy Lee [D-GA-8], Rep. Byron, Beverly B. [D-MD-6], Rep. Dornan, Robert K. [R-CA-46], Sen. Daschle, Thomas A. [D-SD], Rep. English, Glenn [D-OK-6], Rep. Cleveland, James C. [R-NH-2], Rep. Paul, Ron [R-TX-14], Rep. Weaver, James H. [D-OR-4], Rep. Neal, Stephen L. [D-NC-5], Rep. Seiberling, John F. [D-OH-14], Rep. Gingrich, Newt [R-GA-6], Rep. Daniel, W. C. (Dan) [D-VA-5], Rep. McClory, Robert [R-IL-13], Rep. Mollohan, Robert H. [D-WV-1], Rep. Heftel, Cecil [D-HI-1], Rep. Murtha, John P. [D-PA-12], Rep. de la Garza, E. [D-TX-15], Rep. Traxler, Bob [D-MI-8], Rep. Williams, Pat [D-MT-At Large], Rep. Edgar, Robert W. [D-PA-7], Rep. Bevill, Tom [D-AL-4], Rep. Hutto, Earl [D-FL-1], Rep. Wilson, Charles [D-TX-2], Rep. Stangeland, Arlan [R-MN-7], Rep. Courter, Jim [R-NJ-12], Rep. Ritter, Don [R-PA-15]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to exclude from a decedent's gross estate for purposes of the estate tax the value of real property used in farming. Excludes up to the first $250,000 of the value of the farm property and certain percentages of the value in excess of $250,000. Requires a percentage reduction of the amount of the exclusion for farm property in excess of $450,000.

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

Timeline

  1. 25 April 1979

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 25 April 1979

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 25 April 1979

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

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Documents

1 official file

Leesvertaling

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Sponsors

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Related records

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Sources

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