Summary: H.R.15208 — 93rd Congress (1973-1974)All Information (Except Text)

There is one summary for H.R.15208. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/05/1974)

Provides that, under the Internal Revenue Code of 1954, real property which is farmland, woodland, or open land and forms part of an estate may be valued, for estate tax purposes, at its value as farmland, woodland, or open land (rather than at its fair market value). Provides that real property which is listed on the National Register of Historic Places may be valued, for estate tax purposes, at its value for its existing use. Provides for the revocation of such lower valuation and recapture of unpaid tax with interest under specified circumstances.