H.R.2713 - Capital Gains Easement Act of 2013

To amend the Internal Revenue Code of 1986 to exclude from gross income gain from the sale or grant of conservation easements and to allow the sale or grant of conservation easements in the case of the special estate tax valuation provisions for certain farm and other trade or business real property. view all titles (2)

All Bill Titles

  • Short: Capital Gains Easement Act of 2013 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to exclude from gross income gain from the sale or grant of conservation easements and to allow the sale or grant of conservation easements in the case of the special estate tax valuation provisions for certain farm and other trade or business real property. as introduced.

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Introduced
 
House
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Senate
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President
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07/17/13
 
 
 
 
 
 
 

Official Summary

Capital Gains Easement Act of 2013 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, any gain from the sale or grant of a qualified real property interest to a tax-exempt organization made exclusively for conservation purposes. Defines \"qualified rea

Official Summary

Capital Gains Easement Act of 2013 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, any gain from the sale or grant of a qualified real property interest to a tax-exempt organization made exclusively for conservation purposes. Defines \"qualified real property interest\" as any interest in real property which is:
(1) the entire interest of the taxpayer,
(2) a remainder interest, or
(3) a restriction (granted in perpetuity) on the use which may be made of the real property. Exempts such a sale or grant of a qualified real property interest from the application of estate tax property valuation rules.

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