HR 4937 United States House · 118th Congress

Preserving Family Farms Act of 2023

Summary

Preserving Family Farms Act of 2023 This bill amends the Internal Revenue Code to increase to $13 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 2023.

Issues: ✗ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Jul 2023

Committee Review

Floor Vote

President

Introduced Jul 26, 2023 Last action Jul 26, 2023

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

2

Key actions

0

Committee

1

Jul 26, 2023

Committee

Referred to the House Committee on Ways and Means.

lower

Jul 26, 2023

Introduced

Introduced in House

lower

1 primary · 14 co-sponsors

Sponsors

Role

Legislator

Party

State

District

Guy Reschenthaler

Marcus J. Molinaro