H.R. 1458 · 110th Congress
Family Farm Preservation Act of 2007
- Stage
- In committee
- Sponsor
- Joseph Pitts
- Introduced
- 2007-03-09
- Latest action
- 2007-03-09 · Introduced in House
Summary
Family Farm Preservation Act of 2007 - Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of qualified farmland development rights to a tax-exempt conservation organization. Defines "qualified farmland development rights" as a restriction limiting farmland to use as a farm for farming purposes or for exclusively conservation purposes.