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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.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1927
Sponsor: Sen. Hyde-Smith, Cindy [R-MS]
Process start date: 2025-06-03
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

HERITAGE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1927.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-06-03.

What are the main provisions?

Key points include:

  • 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.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Hyde-Smith, Cindy [R-MS].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Agriculture Family