HR 5259
Preserving Family Farms Act of 2019
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Preserving Family Farms Act of 2019, changes how estate taxes are calculated for farmland. It increases the amount used to value farmland when determining estate taxes from $750,000 to $11.4 million. This change is designed to help family farms retain their land and assets during estate transfers, and it adjusts for inflation to maintain its value over time. The bill applies to estates of individuals who die after the bill becomes law.
Sponsors
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Primary sponsor
Cosponsors
Greg [R-MT-At Large] Gianforte
Jackie Walorski
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