HERITAGE Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 1927 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 1927 To amend the Internal Revenue Code of 1986 to increase the limitation with respect to the aggregate reduction in fair market value of farmland for purposes of application of the estate tax. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 3, 2025 Mrs. Hyde-Smith introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to increase the limitation with respect to the aggregate reduction in fair market value of farmland for purposes of application of the estate tax. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Helping Ensure Rural Inheritance Transfers Are Generationally Enduring Act'' or the ``HERITAGE Act''. SEC. 2. INCREASE IN LIMITATION ON AGGREGATE REDUCTION IN FAIR MARKET VALUE OF …