HR 96 · 111th Congress · Taxation

Save Family-Owned Farms and Small Businesses Act of 2009

Introduced 2009-01-06· Sponsored by Rep. Conaway, K. Michael [R-TX-11]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2009-01-06)

Plain Language Summary

[AI summary unavailable — showing source text] Save Family-Owned Farms and Small Businesses Act of 2009 - Amends the Internal Revenue Code to: (1) increase to $1.85 million the maximum reduction amount for alternative valuations of farmland and other business property for estate tax purposes; and (2) restore after 2009 the estate tax deduction for family-owned business interests and increase such deduction to $2 million. Allows annual inflation adjustments to such increased amounts after 2010.…

Summarized by Claude AI · Non-partisan · For informational purposes only