H.R. 96 · 111th Congress

Save Family-Owned Farms and Small Businesses Act of 2009

Stage
In committee
Sponsor
K. Conaway
Introduced
2009-01-06
Latest action
2009-01-06 · Introduced in House

Summary

Save Family-Owned Farms and Small Businesses Act of 2009 - Amends the Internal Revenue Code to: (1) increase to $1.85 million the maximum reduction amount for alternative valuations of farmland and other business property for estate tax purposes; and (2) restore after 2009 the estate tax deduction for family-owned business interests and increase such deduction to $2 million. Allows annual inflation adjustments to such increased amounts after 2010.