H.R. 4937 · 118th Congress
Preserving Family Farms Act of 2023
- Stage
- In committee
- Sponsor
- Jimmy Panetta
- Introduced
- 2023-07-26
- Latest action
- 2023-07-26 · Introduced in House
Summary
Preserving Family Farms Act of 2023
This bill amends the Internal Revenue Code to increase to $13 million (currently, $750,000) the limitation on the special use valuation for farmland or other trades or businesses for estate tax purposes. The increased amount is adjusted for inflation for estates of decedents dying after 2023.