H.R. 1593 (112th): Farmland Preservation and Land Conservation Act of 2011

Introduced:
Apr 15, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Timothy Bishop [D-NY1]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 47 on Jan 03, 2013. See H.R. 47 for current action on this subject.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


4/15/2011--Introduced.
Farmland Preservation and Land Conservation Act of 2011- Amends the Internal Revenue Code to allow an estate and gift tax exclusion for real property located in the United States which at the time of a decedent's death was being used as a farm for farming purposes or exclusively for conservation purposes.
Imposes:
(1) an additional estate or gift tax with respect to such property if an heir or donee disposes of or uses such property for other than farming or conservation purposes, and
(2) a federal tax lien on such property until liability for estate or gift tax with respect to such property has been satisfied or has become unenforceable.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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