legislation: 99-s-2549

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

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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
99-s-2549 99 s 2549 A bill to amend the Internal Revenue Code of 1954 to permit the rollover of gain from the sale of farmland development rights, and for other purposes. Taxation 1986-06-12 1986-06-12 Read twice and referred to the Committee on Finance. Senate Sen. Specter, Arlen [R-PA] PA R S000709 0 Amends the Internal Revenue Code to provide for the nonrecognition of gain from the sale of farmland development rights under a qualified State farmland preservation program if the taxpayer purchases qualified farming property within 18 months of such sale. Excludes from gross income up to $100,000 of gain from the sale of farmland development rights by an individual who is age 55 or older. Allows a charitable contribution deduction for gain from the sale of farmland development rights to a State to the extent that the fair market value of such rights exceeds the amount actually received by the taxpayer. 2025-01-03T20:55:56Z  

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