A bill to amend the Internal Revenue Code of 1986 to exclude from gross income capital gains from the sale of certain farmland property which are reinvested in individual retirement plans.
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 5
- Latest action
- Mar 11, 2025
What it does
This bill excludes from gross income the gain from the sale or exchange of qualified farmland property to a qualified farmer that is contributed to an individual retirement account (IRA). This generally prevents the federal capital gains tax from being imposed on such gain. (Conditions apply.)
Official summary · Introduced in Senate · Mar 11, 2025
Titles and provisions can change as the bill moves.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
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Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.