A bill to amend the Internal Revenue Code of 1954 to allow an estate tax credit for certain contributions of open space easements, and for other purposes.

Summary

Amends the Internal Revenue Code to allow a credit against the estate tax for the contribution of an easement to a governmental unit or a publicly supported tax-exempt charitable organization exclusively for the preservation of open space (including farmland and forest land). Increases from $500,000 to $750,000 the limitation on the maximum decrease in the value of property that maybe taken into consideration for the special valuation of farm and other property.

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Documents

1 official file

• Introduced in House

  summary · EN · 1 October 1980

  Open at official source

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