A bill to amend the Internal Revenue Code of 1954 to exclude from gross income gain on the sale or exchange of certain farmland if the owners of the farmland, in a covenant binding themselves and all future owners of their land, restrict the use of such land to use as farmland.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income gain on the sale or exchange of certain farmland if the owners of the farmland, in a irrevocable covenant binding upon themselves and all future owners of the land, restrict the use of such land to use as farmland.…