Summary: H.R.3524 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.3524. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/31/2009)

Family Farm Preservation and Conservation Estate Tax Act - Amends the Internal Revenue Code to: (1) exclude from the gross estate the value of property used by a decedent and the decedent's family as a farm for farming purposes and certain qualified conservation easements; and (2) impose a recapture tax if such farmland is sold outside the decedent's family or is no longer used for farming purposes or if a qualified conservation easement is likewise sold or used in violation of the terms of such easement.