S. 930 aims to amend the Internal Revenue Code to allow people who sell certain farmland to reinvest the profits into individual retirement plans without paying income tax on the gains. To qualify, the farmland must have been used for farming by the seller or leased to...
Simple Explanation
This bill lets people who sell certain farms put the money they make into their retirement savings without paying extra taxes, as long as the farmland was used for farming for many years.