United States · Bill · S
S. 227 (94th)
Family Farm Inheritance Act
Introduced
17 January 1975
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
2 September 2025
Summary
Family Farm Inheritance Act - States that for purposes of the estate tax under the Internal Revenue Code the value of the taxable estate shall be determined by deducting the lesser of: (1) $200,000; or (2) the value of the decedent's interest in a family farming operation continuously owned by him or his spouse for five years prior to his death and which passes to a related individual. Disqualifies the individual to whom the estate passes from the tax benefit authorized by this Act if such individual, within five years after the decedent's death, sells or removes the family farming operation.
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 17 January 1975
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/94th-congress/senate-bill/227
- Open data entity: https://api.congress.gov/v3/bill/94/s/227