Bill118th CongressFiled Mar 21, 2023Taxation
H.Res. 237
Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.
Bill journey · stage 1 of 5
Just introduced
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Mar 21, 2023)
This resolution supports the preservation of the stepped-up basis tax rule that allows recipients of inherited assets such as land, equipment, or buildings to adjust the cost basis of the assets to reflect their fair market value. The resolution opposes any efforts to impose new taxes on family farms or small businesses and recognizes the importance of generational transfers of farm and family-owned businesses.
What just happenedMar 23, 2023
Sponsor introductory remarks on measure. (CR H1332)
Who’s behind it
Rep. Mann, Tracey [R-KS-1](R-KS)Sponsor
79 cosponsors4 D75 R
79cosponsors1committees4actions4subjects
- Introduced in HouseMar 21, 2023
- Mar 23, 2023IntroReferralB00100
Sponsor introductory remarks on measure. (CR H1332)
- Mar 21, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Mar 21, 2023IntroReferralIntro-H
Introduced in House
- Mar 21, 2023IntroReferral1000
Introduced in House