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United States · Bill · HR

H.R. 4516 (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

18 June 1979

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

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Subjects

Discovery layer

Source updated

7 February 2024

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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 $400,000 of the value of the farm property and certain percentages of the value in excess of $400,000. Requires a percentage reduction of the amount of the exclusion for farm property in excess of $600,000.

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Documents

1 official file

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