Summary: H.R.1458 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.1458. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/09/2007)

Family Farm Preservation Act of 2007 - Amends the Internal Revenue Code to exclude from gross income gain from the sale or exchange of qualified farmland development rights to a tax-exempt conservation organization. Defines "qualified farmland development rights" as a restriction limiting farmland to use as a farm for farming purposes or for exclusively conservation purposes.