‘‘(4) OTHER TERMS.—Any other term used in 
this section which is also used in section 2032A shall 
have the same meaning given such term by section 
2032A. 
‘‘(d) TAX TREATMENT OF DISPOSITIONS AND FAIL-
URES TO USE FOR FARMING PURPOSES.— 
‘‘(1) IMPOSITION OF RECAPTURE TAX.—If, at 
any time after the decedent’s death— 
‘‘(A) the qualified heir disposes of any in-
terest in qualified farmland (other than by a 
disposition to a member of his family), or 
‘‘(B) the qualified heir ceases to use the 
real property which was acquired (or passed) 
from the decedent as a farm for farming pur-
poses, 
then there is hereby imposed a recapture tax on 
such disposition or cessation of use. 
‘‘(2) AMOUNT OF RECAPTURE TAX.— 
‘‘(A) IN
GENERAL.—The amount of the 
tax imposed by paragraph (1) shall be the ex-
cess of— 
‘‘(i) the tax which would have been 
imposed by section 2001 on the estate of 
the decedent but determined as if such es-
tate included the interest in qualified farm-
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smartinez on DSKB9S0YB1PROD with BILLS
land described in paragraph (1) which was 
so disposed of or ceased to be so used, re-
duced by the credits allowable against such 
tax, over 
‘‘(ii) the tax imposed by section 2001 
on the estate of the decedent, reduced by 
such credits. 
For purposes of this paragraph, the value of the in-
terest in qualified farmland specified in subpara-
graph (A) shall be the adjusted value of such inter-
est as of the date of the disposition or cessation of 
such interest described in paragraph (1). 
‘‘(B) $8,000,000 EXCLUSION
AMOUNT.— 
For purposes of subparagraph (A), the adjusted 
value of such interest shall be reduced by an 
amount equal to— 
‘‘(i) $8,000,000, reduced (but not 
below zero) by 
‘‘(ii) an amount equal to the amount 
by which the adjusted value of all other in-
terests in such qualified farmland has been 
reduced previously by reason of this sub-
paragraph. 
‘‘(3) REGULATIONS.—The Secretary may pre-
scribe such regulations as may be necessary or ap-
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propriate to carry out this subsection, including reg-
ulations requiring record keeping and information 
reporting, except that the Secretary may not impose 
a lien on the estate of the decedent or qualified 
farmland for such purposes. 
‘‘(e) APPLICATION OF OTHER RULES.—Rules similar 
to the rules of subsections (e) (other than paragraph (13) 
thereof), (f), (g), (h), and (i) of section 2032A shall apply 
for purposes of this section. 
‘‘(f) ELECTION.—The election under this subsection 
shall be made on or before the due date (including exten-
sions) for filing the return of tax imposed by section 2001 
and shall be made on such return.’’. 
(b) CLERICAL AMENDMENT.—The table of sections 
for part III of subchapter A of chapter 11 of such Code 
is amended by inserting after the item relating to section 
2033 the following new item: 
‘‘Sec. 2033A. Exclusion of certain farmland so long as use as farmland con-
tinues.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to estates of decedents dying after 
the date of the enactment of this Act. 
Æ 
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