A bill to amend the Internal Revenue Code of 1986 to exclude from gross income capital gains from the sale of certain farmland property which are reinvested in individual retirement plans.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, A bill to amend the Internal Revenue Code of 1986 to exclude from gross income capital gains from the sale of certain farmland property which are reinvested in individual retirement plans., changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses. The main policy domain is Agriculture, Finance, Transportation.
Who Benefits and How
farmers, ranchers, and agricultural businesses may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, farmers, ranchers, and agricultural businesses may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section id301c2f1f68e242339362501b660e3a11: 1. Exclusion of certain capital gains from the sale of certain farmland property Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is...
- Section ide88cbc4fa6a04865bf123bbf01ffb761: 139J. Gain from the sale or exchange of qualified farmland property to qualified farmers If a taxpayer makes an election under this section and files the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, A bill to amend the Internal Revenue Code of 1986 to exclude from gross income capital gains from the sale of certain farmland property which are reinvested in individual retirement plans., changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses.
Key Policy Areas
Agriculture, Finance, Transportation
Primary Purpose
This bill, A bill to amend the Internal Revenue Code of 1986 to exclude from gross income capital gains from the sale of certain farmland property which are reinvested in individual retirement plans., changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses.
Policy Domains
Whole bill
Identified Gains
- farmers, ranchers, and agricultural businesses
Identified Costs
- federal implementing agencies
- farmers, ranchers, and agricultural businesses
Sponsors
Legislative Progress
In CommitteeMr. McConnell introduced the following bill; which was read twice …
Read twice and referred to the Committee on Finance.
Introduced in Senate
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → The Secretary identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology