A bill to amend the Internal Revenue Code of 1954 to extend the benefits of special farm valuation for estate tax purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code, with respect to the special farm valuation for estate tax purposes, to deem the material participation requirement met if, before the decedent's death, there was material participation by the decedent or any spouse in the operation of the farm or other business during periods aggregating 20 years or more. Requires treatment of the activities of any agent or fiduciary as the activities of a qualified heir if performed for him or her in order to satisfy the material participation requirement for purposes of determining that real property has not ceased to be used for the qualified use. Limits such special rule for activities of agents to the case of a qualified heir who is: (1) under 21; (2) a student; (3) under a physical or mental disability which prevents him or her from participating materially in the operation of the farm or other business; or (4) a spouse of the decedent aged 62 or more.…