General Assembly Proposed Bill No. 5221
February Session, 2016 LCO No. 332
*00332*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. MACLACHLAN, 35th Dist.
General Assembly
Proposed Bill No. 5221
February Session, 2016
LCO No. 332
*00332*
Referred to Committee on FINANCE, REVENUE AND BONDING
Introduced by:
REP. MACLACHLAN, 35th Dist.
AN ACT EXEMPTING CERTAIN AGRICULTURAL LANDS FROM THE ESTATE TAX.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 217 of the general statutes be amended to exempt from the estate tax land classified for property tax assessment purposes as farm land pursuant to section 12-107c of the general statutes provided the heirs agree to preserve such land as farm land for eight or more years.
Statement of Purpose:
To preserve farm land by exempting it from the estate tax provided such land remains farm land for eight or more years.