A bill to amend the Internal Revenue Code of 1954 to provide relief for insolvent farmers by excluding certain capital gains amounts for purposes of computing the alternative minimum tax.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude as a tax preference item in computing the alternative minimum tax capital gains amounts resulting from the transfer, sale, or exchange by certain farmers of real property used in the active conduct of farming as a result of an insolvency transaction.…