HR 4937 · 118th Congress · Taxation

Preserving Family Farms Act of 2023

Introduced 2023-07-26· Sponsored by Rep. Panetta, Jimmy [D-CA-19]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2023-07-26)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

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

Cosponsors (14)

1 Democrat13 Republicans
Rep. Kelly, Mike [R-PA-16]PA
Rep. Mann, Tracey [R-KS-1]KS
Rep. Rose, John W. [R-TN-6]TN
Rep. Sewell, Terri A. [D-AL-7]AL
Rep. Steil, Bryan [R-WI-1]WI
Rep. Waltz, Michael [R-FL-6]FL
Rep. LaMalfa, Doug [R-CA-1]CA
Rep. Houchin, Erin [R-IN-9]IN
Rep. Scott, Austin [R-GA-8]GA
Rep. Steube, W. Gregory [R-FL-17]FL
Rep. Molinaro, Marcus J. [R-NY-19]NY
Rep. Nunn, Zachary [R-IA-3]IA
Rep. Meuser, Daniel [R-PA-9]PA
Rep. Reschenthaler, Guy [R-PA-14]PA