Amends the Internal Revenue Code to exclude from a decedent's gross estate for purposes of the estate tax the value of real property used in farming. Excludes up to the first $250,000 of the value of the farm property and certain percentages of the value in excess of $250,000. Requires a percentage reduction of the amount of the exclusion for farm property in excess of $450,000.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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