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- H.R.2034
H.R.2034: Beginning Farmers and Ranchers Act of 2005
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about taxation
- Introduced April 28, 2005
- Latest Major Action April 28, 2005
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
47 (14 Democrats, 34 Republicans)
Bill Summary
Beginning Farmers and Ranchers Act of 2005 - Amends the Internal Revenue Code to exclude from gross income 100 percent of the gain, up to $500,000, from the sale of qualified farm property to a first-time farmer who certifies that such property will be used for farming purposes for ten years. Allows: (1) a 50 percent exclusion for the sale of qualified farm property to any other person who certifies that such property will be used for farming...
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
Referred to the House Committee on Ways and Means.
|
|
April 28, 2005 |
Introduced in the House by Lee Terry (R-Neb.) |