A bill to amend the Internal Revenue Code of 1986 to provide that the value of certain historic property shall be determined using an income approach in determining the taxable estate of a decedent.

referredUnited States· United States Congress· EN

Introduced

20 March 2012

Last action

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Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to allow decedent estates to base the value of qualified historic property on the net earnings of such property for estate and gift tax purposes. Defines "qualified historic property" as any building designated as a national historic landmark for at least 25 years prior to the death of a decedent and originally used for residential or farming purposes.

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Documents

3 official files

Introduced in Senate (text)
Introduced in Senate · EN · 20 March 2012
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Introduced in Senate (PDF)
Introduced in Senate · EN · 20 March 2012
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Introduced in Senate
summary · EN · 20 March 2012
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Sources

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Official source: https://www.congress.gov/bill/112th-congress/senate-bill/2209
Open data entity: https://api.congress.gov/v3/bill/112/s/2209