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H.Res. 237 · 118th Congress

Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in…

Full title

Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.

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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

TMR MannSponsor
79 cosponsors · 4 D, 75 R
MAR Alford LBR Bucshon DBR Bacon JBR Bergman JBR Baird KCR Cammack JCD Costa RCR Crawford ACD Craig MCR Carey JDR Duncan WDR Davidson JDR Duarte JER Ellzey RFR Feenstra AFR Ferguson MFR Fischbach CFR Franklin BFR Finstad RFR Fry MGR Guest CHR Higgins DHR Harshbarger AHR Hinson SJD Jackson Lee MJR Johnson DJR Johnson RJR Jackson TKR Kelly DKR Kustoff JLR LaTurner FLR Lucas RLR Latta DLR LaMalfa DLR LaHood LMR McClain JMR Moolenaar DMR Meuser CMR Miller GMR Murphy MMR Miller BMR Moore BMR Moore MMR Miller-Meeks MMR Miller DNR Newhouse RNR Norman ZZR (Zach) Nunn JPD Panetta MRR Rosendale GRR Reschenthaler PSR Sessions VSR Spartz MSR Steel ASR Smith ASR Scott ESR Stefanik WSR Steube GTR Thompson CTR Tenney RWR Wittman AWR Wagner SBR Bice SDR DesJarlais MGR Green BJR Johnson TBR Balderson BWR Wenstrup MBR Bost BCR Cline BGR Good MLR Lawler RFR Fulcher JRR Rose MCR Cloud DVR Van Orden SGR Graves MKR Kelly BSR Steil

62 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This resolution supports the preservation of the stepped-up basis tax rule that allows recipients of inherited assets such as land, equipment, or buildings to adjust the cost basis of the assets to reflect their fair market value.

What it does: CRS summary · Introduced in House · Mar 21, 2023

This resolution supports the preservation of the stepped-up basis tax rule that allows recipients of inherited assets such as land, equipment, or buildings to adjust the cost basis of the assets to reflect their fair market value. The resolution opposes any efforts to impose new taxes on family farms or small businesses and recognizes the importance of generational transfers of farm and family-owned businesses.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.

Latest action (Mar 23, 2023): Sponsor introductory remarks on measure. (CR H1332)

Policy area: Taxation · Origin: House · Introduced: Mar 21, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.