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Estate Tax Relief for Farmland: Increased Exemptions for Inherited Rural Property.

This new act increases the estate tax exemption for farmland, making it easier for families to pass down farms through generations. These changes can help preserve family farms and prevent their sale due to high taxes after an owner's death.
Key points
Increases the estate tax valuation reduction limit for certain farmland from $750,000 to $15,000,000.
The changes apply to estates of individuals dying after the act's enactment date.
Aims to facilitate the inheritance of family farms and reduce tax burdens on farming families.
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Status: Introduced
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Additional Information
Print number: 119_S_1927
Sponsor: Sen. Hyde-Smith, Cindy [R-MS]
Process start date: 2025-06-03