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H.R. 5259 (116th): Preserving Family Farms Act of 2019

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Dec 12, 2019.

Preserving Family Farms Act of 2019

This bill amends the Internal Revenue Code to increase to $11.4 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 2019.