Save the Family Farm and Ranch Act Introduced

Legislation would address inheritance tax issues on farms.

Representatives Betsy Markey, D-Colo., and John Salazar, D-Colo., have introduced the Save the Family Farm and Ranch Act. The measure would defer payment of the inheritance tax on family farms as long as the land is used for agricultural or conservation purposes. To ensure true farmers and ranchers benefit from this legislation the Act would apply to those receiving more than 50% of their gross income from the farm or ranch operation.

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