Eliminate capital gains tax on sales or transfers of family farms between qualified family members when the land remains in agricultural production.

Rep. Marie Gluesenkamp Perez (WA-03) and Rep. Thomas Massie (R-KY) introduced the bipartisan No Capital Gains Tax on Family Farms Act to remove capital gains on the sale or exchange of a farm between family members provided that the land stays in agricultural production.

Gluesenkamp Perez introduced legislation to exempt qualifying family farm transfers from capital gains tax if the land remains in agricultural use.

Rep. Gluesenkamp Perez Leads Bill to Protect Generational Farms
primary · press_release · model gpt-5.5

No Capital Gains Tax on Family Farms Act. Full Title: To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income of gain from the sale of qualified farm property to qualified family members. Sponsors Thomas Massie(KY). Cosponsors Marie Gluesenkamp Perez (WA).

Marie Gluesenkamp Perez cosponsored H.R. 8591, a bill to exclude gains from sales of qualified farm property to qualified family members from gross income.

H.R. 8591 (IH) - No Capital Gains Tax on Family Farms Act - BILLS-119hr8591ih | Content Details | GovInfo
primary · other · model gpt-5.5