legislation: 103-s-2477

Congressional bills and resolutions from Congress.gov, filtered to policy areas relevant to environmental, health, agriculture, and wildlife regulation.

Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API

This data as json

bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
103-s-2477 103 s 2477 Family Forest and Preservation Tax Act of 1994 Taxation 1994-09-29 1994-09-29 Read twice and referred to the Committee on Finance. Senate Sen. Gregg, Judd [R-NH] NH R G000445 0 TABLE OF CONTENTS: Title I: Estate Tax Provisions Title II: Income Tax Treatment Family Forestland Preservation Tax Act of 1994 - Title I: Estate Tax Provisions - Amends the Internal Revenue Code to exclude from a gross estate the value of real property: (1) which is used in timber operations; and (2) which is subject to a qualified conservation easement. Increases the recapture period for the special estate tax valuation of forest lands. Title II: Income Tax Treatment - Provides taxpayers a partial inflation adjustment for the deduction from gross income for qualified timber gain. Allows such deduction in computing adjusted gross income. Exclude from gross income the applicable percentage of qualified timber gain from the sale or exchange of property used in timber operations to a governmental unit for conservation purposes. Excludes from conditions of the material participation rules, for purposes of the passive loss limitations, closely held timber activity if the aggregate hours devoted to management of the activity for any year is generally fewer than 100 hours. 2025-08-26T13:49:35Z  

Links from other tables