HR 412 · 98th Congress · Taxation
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.
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1983-01-03)
Plain Language Summary
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Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of certain farmland if the use of such land is restricted to farming by a covenant binding all future owners of such land.…
Summarized by Claude AI · Non-partisan · For informational purposes only