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.

4/7/2025, 12:51 PM

Summary of Bill S 930

Bill 119 s 930, also known as the "Farmland Retirement Act," is a proposed piece of legislation that aims to amend the Internal Revenue Code of 1986. The main purpose of this bill is to exclude capital gains from the sale of certain farmland property from an individual's gross income if those gains are reinvested in individual retirement plans.

Under the current tax laws, individuals who sell farmland property and realize capital gains are required to pay taxes on those gains. However, this bill seeks to provide an incentive for individuals to reinvest those gains into their individual retirement plans by excluding them from their gross income.

The Farmland Retirement Act is designed to encourage individuals who own farmland to save for their retirement by allowing them to defer taxes on the capital gains from the sale of their property. This could potentially help farmers and other landowners to secure their financial future and ensure a comfortable retirement. Overall, Bill 119 s 930 aims to provide a tax benefit to individuals who choose to reinvest the capital gains from the sale of farmland property into their individual retirement plans. This could have a positive impact on the financial security of farmers and landowners across the country.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill S 930

Bill S 930 is currently in the status of Bill Introduced since March 11, 2025. Bill S 930 was introduced during Congress 119 and was introduced to the Senate on March 11, 2025. Bill S 930's most recent activity was Read twice and referred to the Committee on Finance. as of March 11, 2025

Bipartisan Support of Bill S 930

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 930

Primary Policy Focus

Alternate Title(s) of Bill S 930

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.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.

Start holding our government accountable!