No Capital Gains Tax on Family Farms Act

Summary

The bill would let farmers sell qualified farm land to spouses, children, grandchildren, or adopted children without paying capital gains tax on the profit. It defines which property and family members qualify and sets rules for how the new owner's tax basis is calculated. The goal is to keep farms in families by removing a tax barrier.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share