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United States · Bill · HR

H.R. 6461 (96th)

Family Business Ranch, and Farm Protection Act of 1980

referredUnited States· United States Congress· EN

Introduced

7 February 1980

Last action

7 February 1980 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Kramer, Ken [R-CO-5], Rep. Winn, Larry, Jr. [R-KS-3], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Pepper, Claude [D-FL-18], Rep. Kelly, Richard [R-FL-5], Rep. Porter, John Edward [R-IL-10], Rep. Sebelius, Keith G. [R-KS-1], Rep. Daniel, Robert W., Jr. [R-VA-4], Sen. Jeffords, James M. [I-VT], Rep. Leach, Claude (Buddy), Jr. [D-LA-4], Rep. Quillen, James H. (Jimmy) [R-TN-1], Sen. Symms, Steven D. [R-ID], Rep. Hinson, Jon C. [R-MS-4], Rep. Guyer, Tennyson [R-OH-4], Sen. Andrews, Mark [R-ND], Rep. Neal, Stephen L. [D-NC-5], Rep. Wyatt, Joe, Jr. [D-TX-14], Rep. Carney, William [R-NY-1], Rep. Carter, Tim Lee [R-KY-5], Rep. Gingrich, Newt [R-GA-6], Rep. Anthony, Beryl, Jr. [D-AR-4], Rep. Campbell, Carroll A., Jr. [R-SC-4], Rep. Spellman, Gladys Noon [D-MD-5], Rep. Crane, Daniel B. [R-IL-19], Rep. Whitten, Jamie L. [D-MS-1], Rep. Leach, James A. [R-IA-2]

Subjects

Taxation

Source updated

2 September 2025

Taxation

Official sourceView documentsShare

Summary

Family Business Ranch, and Farm Protection Act of 1980 - Amends the Internal Revenue Act, with respect to estate taxes, to reduce the value of any jointly held interest in a decedent's gross estate by up to 50 percent (not to exceed $500,000) of any real or tangible property devoted to use as a farm or to use in any other trade or business, where the decedent's spouse and/or children materially participated in the operation of such farm, trade, or business. Specifies a formula for the computation of the special value of any such interest. Imposes an additional tax to recapture any such tax benefits should the spouse and/or child dispose of any interest in such property within five years following the decedent's death.

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

Timeline

  1. 7 February 1980

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 7 February 1980

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 7 February 1980

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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