A bill to amend the Internal Revenue Code of 1954 to clarify the valuation, for estate tax purposes, of farm and other real property when such property is rented by a member of a decedent's family, and for other purposes.

Summary

Amends the Internal Revenue Code to allow the special use valuation of farms for estate tax purposes for real property which is put to a qualified use by a member of the decedent's family.

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

Timeline

1. 3 March 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 3 March 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 5 March 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 3 March 1981

  Open at official source

Sponsors

• Sen. Boschwitz, Rudy [R-MN] · R · Sponsor
• Sen. Thurmond, Strom [R-SC] · R · Sponsor
• Sen. Lugar, Richard G. [R-IN] · R · Sponsor
• Sen. Percy, Charles H. [R-IL] · R · Sponsor
• Sen. Jepsen, Roger W. [R-IA] · R · Sponsor
• Sen. Melcher, John [D-MT] · D · Sponsor
• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Pressler, Larry [R-SD] · R · Sponsor
• Sen. Andrews, Mark [R-ND] · R · Sponsor
• Sen. Exon, J. James [D-NE] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to clarify the valuation, for estate tax purposes, of farm and other real property when such property is rented by a member of a decedent's family and for other purposes.