Bill118th CongressFiled Jul 26, 2023Taxation
H.R. 4937
Preserving Family Farms Act of 2023
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jul 26, 2023)
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.
What just happenedJul 26, 2023
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Panetta, Jimmy [D-CA-19](D-CA)Sponsor
14 cosponsors1 D13 R
14cosponsors1committees3actions
- Introduced in HouseJul 26, 2023
- Jul 26, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 26, 2023IntroReferralIntro-H
Introduced in House
- Jul 26, 2023IntroReferral1000
Introduced in House