Q: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Rural Heritage Conservation Act''.

SEC. 2. SPECIAL LIMITATION FOR CERTAIN CHARITABLE CONTRIBUTIONS OF
ELIGIBLE FARMERS AND RANCHERS.

(a) In General.--Section 170(b)(1) of the Internal Revenue Code of
1986 (relating to percentage limitations of individuals) is amended by
redesignating subparagraph (F) as subparagraph (G) and inserting after
subparagraph (E) the following:
''(F) Special limitation with respect to
contributions described in subparagraph (a) of capital
gain property by eligible farmers or ranchers.--
''(i) In general.--Notwithstanding
subparagraph (C), in the case of a charitable
contribution described in subparagraph (A) of
capital gain property (as defined in
subparagraph (C)) of an eligible farmer or
rancher who makes an election under clause
(ii), the total amount of contributions of such
property which may be taken into account under
subsection (a) for any taxable year shall not
exceed 100 percent of the taxpayer's
contribution base for such year. For purposes
of this subsection, contributions of capital
gain property to which this subparagraph
applies shall be taken into account after all
other charitable contributions.
''(ii) Election.--
''(I) In general.--A taxpayer may
make an election under this clause to
take the deduction under subsection (a)
for any contribution described in
clause (i) for a 15-consecutive-
taxable-year period.
''(II) Effect of election.--A
taxpayer may only make 1 election under
this clause. Such election, once made,
shall be irrevocable.
''(iii) Eligible farmer or rancher.--For
purposes of this subparagraph, the term
'eligible farmer or rancher' means a taxpayer--
''(I) whose gross income from the
trade or business of farming (within
the meaning of section 2032A(e)(5)) is
at least 51 percent of the taxpayer's
gross income for the taxable year, and
''(II) in the case of a C
corporation, the stock of which is not
publicly traded on a recognized
exchange.''.
(b) Conforming Amendments.--
(1) Section 170(b)(1)(C)(i) of the Internal Revenue Code of
1986 is amended by inserting ''or (E)'' after ''subparagraph
(D)''.
(2) The second sentence of section 170(b)(1)(D) of such
Code is amended by inserting ''(other than charitable
contributions to which subparagraph (F) applies)'' before the
period.
(c) Effective Date.--The amendments made by this section shall
apply to contributions made in taxable years beginning after the date
of the enactment of this Act.

SEC. 3. MODIFICATIONS TO ENCOURAGE CONTRIBUTIONS OF CAPITAL GAIN REAL
PROPERTY MADE FOR CONSERVATION PURPOSES.

(a) Exclusion From Percentage Limitation.--Section 170(b)(1)(C) of
the Internal Revenue Code of 1986 (relating to special limitation with
respect to contributions described in subparagraph (A) of capital gain
property) is amended by redesignating clause (iv) as clause (v) and by
inserting after clause (iii) the following:
''(iv) Clauses (i) and (ii) shall not apply
to a contribution of capital gain property
which is a qualified conservation contribution
(as defined in subsection (h)).''.
(b) Unlimited Carryover for Certain Conservation Contributions of
Capital Gain Property.--Paragraph (1) of section 170(d) of the Internal
Revenue Code of 1986 (relating to carryover of excess contributions) is
amended by adding at the end the following:
''(C) Unlimited carryover for certain conservation
contributions.--Subparagraph (A) shall not apply to a
contribution described in subsection (b)(1)(C)(iv). If
the amount of the contribution described in subsection
(b)(1)(C)(iv), payment of which is made within the
taxable year, exceeds the taxpayer's contribution base
for the taxable year, such excess shall be treated as a
contribution so described paid in each succeeding
taxable year, in order of time.''.
(c) Effective Date.--The amendments made by this section shall
apply to contributions made in taxable years beginning after the date
of the enactment of this Act.

SEC. 4. INCREASE IN CHARITABLE CONTRIBUTION LIMIT FOR FARMERS AND
RANCHERS DOING BUSINESS IN CORPORATE FORM.

(a) In General.--Section 170(b)(1) of the Internal Revenue Code of
1986 (relating to percentage limitation of individuals), as amended by
section 2(a), is amended by redesignating subparagraph (G) as
subparagraph (H) and by inserting after subparagraph (F) the following:
''(G) Certain farmers and ranchers.--An eligible
farmer or rancher (as defined in subparagraph (F))
shall be treated as an individual for purposes of this
section with respect to any qualified conservation
contribution.''
(b) Conforming Amendment.--Section 170(b)(2) of the Internal
Revenue Code of 1986 is amended by striking ''corporation,'' and
inserting ''corporation (other than a corporation that is an eligible
farmer or rancher as defined in paragraph (1)(F) with respect to a
qualified conservation contribution),''.
(c) Effective Date.--The amendments made by this section shall
apply to donations of qualified conservation contributions (as defined
in section 170(h) of the Internal Revenue Code of 1986) made after the
date of the enactment of this Act, in taxable years ending after such
date.
A:
Rural Heritage Conservation Act - Amends the Internal Revenue Code, with respect to farm and ranch land, to: (1) establish special rules for the charitable contribution of such land; (2) treat a farmer or rancher, for purposes of the charitable contribution limit, as an individual with respect to any such contribution; and (3) provide an unlimited carryover for certain conservation contributions of capital gain property.