Summary: H.R.6439 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.6439. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/19/2012)

Keep the Forest in the Family Estate Tax Act of 2012 - Amends the Internal Revenue Code to: (1) provide an exemption from the additional estate tax for the disposition or severance of standing timber on a qualified woodland for timber that is harvested consistent with a written forest management plan or under professional guidance, and (2) increase from $750,000 to $5 million the limitation on the reduction in the fair market value of real property used for farming or in another trade or business for estate tax purposes.