HR 12394 · 93th Congress · Taxation
A bill to encourage the preservation of open lands in or near urban areas by amending the Internal Revenue Code of 1954 to provide that real property which is farmland, woodland, or open scenic land and forms part of an estate shall be valued, for estate tax purposes, at its value as farmland as it continues to be used as such.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1974-01-30)
Plain Language Summary
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Provides that real property which is farmland, woodland, or open scenic land and forms part of an estate shall be valued, under the Internal Revenue Code of 1954 for estate tax purposes, at its value as farmland if it continues to be used as such.…
Summarized by Claude AI · Non-partisan · For informational purposes only