A bill to amend the Internal Revenue Code of 1954 to add a method of valuing farms used for farming purposes owned by private foundations for purposes of determining minimum investment return.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code, relating to the valuation of farmland owned by private foundations for purposes of determining minimum investment return, to provide that the foundation may use the estate tax valuation of a farm: (1) owned by the private foundation on January 1, 1983; or (2) acquired by the foundation from a decedent by will on or after January 1, 1983.…