H.R. 1448 · 113th Congress
FARMER Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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ScottSponsor10 cosponsors · 1 D, 9 R
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Broun
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Crawford
JK
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Kingston
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McIntyre
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Rogers
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Westmoreland
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Yoho
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Pearce
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Gibbs
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Lankford7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Farmers and Ranchers Minimizing Estate Regulations Act of 2013 or the FARMER Act of 2013 - Amends the Internal Revenue Code, with respect to the special use valuation of farms and other property used in a trade or business for estate tax purposes, to: (1) increase to $2 million the allowable reduction in the fair market value of such property for valuation…
What it does: CRS summary · Introduced in House · Apr 9, 2013
Farmers and Ranchers Minimizing Estate Regulations Act of 2013 or the FARMER Act of 2013 - Amends the Internal Revenue Code, with respect to the special use valuation of farms and other property used in a trade or business for estate tax purposes, to: (1) increase to $2 million the allowable reduction in the fair market value of such property for valuation purposes, (2) reduce the required holding period for such property for eligibility and recapture purposes, (3) allow rentals of such property by controlled entities to qualify as a special use, (4) repeal the requirement to use the gross cash rental method for valuing such property, and (5) exempt woodlands subject to a management plan from the additional tax for early dispositions of such property and for failure to comply with special use requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FARMER Act of 2013
Also known as: Farmers and Ranchers Minimizing Estate Regulations Act of 2013
Latest action (Apr 9, 2013): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 9, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.