A bill to amend the Internal Revenue Code of 1954 to deny tax exemption to any otherwise tax-exempt organization which invests in farm real property.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to deny tax-exempt status to certain organizations if such organizations hold farm real property purchased after the date of enactment of this Act and the holding of such property is not substantially related to the charitable or educational purpose which would otherwise make the organizations tax-exempt.…