HR 390

112th CONGRESS
1st Session

H. R. 390

To amend the Internal Revenue Code of 1986 to provide an exclusion from the gross estate for certain farmlands and lands subject to qualified conservation easements, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

January 20, 2011

Mr. THOMPSON of California introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to provide an exclusion from the gross estate for certain farmlands and lands subject to qualified conservation easements, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. EXCLUSION FROM GROSS ESTATE FOR CERTAIN FARMLAND SO LONG AS FARMLAND USE CONTINUES.

`SEC. 2033A. EXCLUSION OF CERTAIN FARMLAND SO LONG AS USE AS FARMLAND CONTINUES.

SEC. 3. TEMPORARY EXCLUSION OF QUALIFIED CONSERVATION EASEMENTS.

`SEC. 2033B. TEMPORARY EXCLUSION OF QUALIFIED CONSERVATION EASEMENTS.

SEC. 4. MODIFICATION OF DEFINITION OF QUALIFIED CONSERVATION EASEMENT.

SEC. 5. MODIFICATION OF RULES RELATING TO VALUATION OF CERTAIN FARM, ETC., REAL PROPERTY.

END