H.R. 6271 (112th): Family Farm and Small Business Tax Relief Act of 2012

Aug 01, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee) in a previous session of Congress

This bill was introduced on August 1, 2012, in a previous session of Congress, but was not enacted.

Aug 01, 2012
Scott Tipton
Representative for Colorado's 3rd congressional district
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Last Updated
Aug 01, 2012
12 pages
Full Title

To amend the Internal Revenue Code of 1986 to exclude certain farmland and family-owned business interests from the value of the gross estate of decedents.


No summaries available.


House Ways and Means

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Primary Source

THOMAS.gov (The Library of Congress)

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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.

Family Farm and Small Business Tax Relief Act of 2012 - Amends the Internal Revenue Code to exclude from a decedent's gross estate, for estate tax purposes, the adjusted value of qualified farmland and qualified family-owned business interests.
Imposes an additional estate tax if, within 10 years after the decedent's death and before the date of the qualified heir's death: (1) qualified farmland ceases to be used for farming purposes or is sold outside of the qualified heir's family; or (2) material participation requirements for a qualified family-owned business interest are not met, the business ceases to be located in the United States, or the business is sold outside the qualified heir's family.
Makes permanent estate tax provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.

House Republican Conference Summary

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House Democratic Caucus Summary

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