Preserving Family Farms Act of 2021 This bill increases to $11.7 million (currently, $750,000) the limitation on the special use valuation for farmland or other trades or businesses for estate tax purposes. The increased amount is adjusted for inflation for estates of decedents dying after 2021.
FarmlandTax administration and collection, taxpayersTransfer and inheritance taxes
Preserving Family Farms Act of 2021
USA117th CongressHR-2370| House
| Updated: 4/5/2021
Preserving Family Farms Act of 2021 This bill increases to $11.7 million (currently, $750,000) the limitation on the special use valuation for farmland or other trades or businesses for estate tax purposes. The increased amount is adjusted for inflation for estates of decedents dying after 2021.