A bill to amend the Internal Revenue Code of 1954 with respect to the special valuation of farm property for purposes of the estate tax.
Latest action. Referred to Senate Committee on Finance.
Amends the Internal Revenue Code with respect to the method of valuing farms for estate tax purposes to provide that if there is no comparable real property in the locality of a farm from which a cash rental may be determined but there is comparable real property from which net in-kind rentals (crop share rentals) may be determined, then the existing valuation formula shall be applied by substituting "net in-kind rental" for "average annual gross cash rental." Defines net in-kind rental as the excess of: (1) the value of the commodity received by the lessor of the land on which such commodity is produced, over (2) the cash operating expenses of growing such a commodity which, under the lease, are paid by the lessor.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on January 22, 1980. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on January 22, 1980: Referred to Senate Committee on Finance.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
HENRY BELLMON (R-OK) introduced it on January 22, 1980. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on January 22, 1980, 17080 days ago. The most recent recorded action was 17080 days ago, on January 22, 1980.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers