Contact Congress about 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.
Some farmland sellers could skip tax on sale gains if they move the money into retirement accounts fast. The buyer must be an active farmer and could owe an extra tax if the land leaves farming within 10 years.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
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. is a Senate bill in committee. The latest recorded action: Read twice and referred to the Committee on Finance.
Latest action on S. 930: Read twice and referred to the Committee on Finance.
Who this affects: This bill mainly affects farmland owners who want to sell land and save for retirement, and active farmers who want to buy that land. Sellers may get a tax break if they meet the rules. Buyers take on a 10-year tax risk if they sell the land or stop farming it.
Why this matters: This bill matters because it could change who sells farmland, who buys it, and how sale money is saved. Sellers may get a tax reason to sell to active farmers and move gains into retirement accounts. Buyers may face a large tax bill if the land stops being farmed within 10 years. The effects on land prices, farm ownership, and federal revenue are uncertain.
Key provisions in S. 930
- Sellers could keep some farmland sale gains out of taxable income. The limit is the amount they put into individual retirement plans within 60 days after selling qualified farmland to a qualified farmer.
- The land must be farmland in the United States. It must have been used as a farm, or leased to a farmer for farming, for most of the 10 years before the sale.
- The buyer must be a real person who is actively farming. The bill uses the Food Security Act of 1986, a federal farm law, to decide who counts.
- The buyer and seller must file a written agreement with the tax election. It must accept the 10-year recapture rules and list the gain the seller is excluding from income.
- The buyer could owe an extra tax if the land leaves farming within 10 years. This applies if the buyer sells any part of the land or stops using it as a farm.
How Modern Action helps you take action on S. 930
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Questions people ask about S. 930
- What is S. 930?
- Some farmland sellers could skip tax on sale gains if they move the money into retirement accounts fast. The buyer must be an active farmer and could owe an extra tax if the land leaves farming within 10 years.
- How do I support or oppose S. 930?
- Choose support, oppose, or ask for changes on Modern Action. The action flow drafts the message for you and keeps the wording tied to this bill.
- Who should I contact about S. 930?
- Modern Action uses your location to route the action to the congressional offices relevant to the bill and your representation.
- Can Modern Action explain S. 930 before I act?
- Yes. Modern Action gives you a plain-English summary, current status, and action context before you send anything.
