Definition: In this task, you are given a summary for US Congressional and California state bill, your task is to generate a Title for this bill. The preferred titles are under forty words and mention the purpose of the bill.
Input: Open Space Preservation Act of 1993 - Amends the Internal Revenue Code to exclude from the gross estate the value of land subject to a qualified conservation easement for estate tax purposes. Includes in the gross estate the value of each development right retained by the donor in the conveyance of such easement.
Excludes from the gift tax the transfer by gift of land subject to a qualified conservation easement.
Defers the reduction in estate tax rates from 1993 until 1998.
Excludes from gross income any gain from the sale or exchange of eligible farmland that is subject to an irrevocable covenant binding all future owners to use the land as farmland.
Output:
Open Space Preservation Act of 1993