FAMILY FARM PRESERVATION ACT -- (House of Representatives - March 06, 2007)
Mr. PITTS. Madam Speaker, America has some of the most beautiful farmland in the world. But rapidly expanding urban sprawl is threatening this cherished natural resource every day. In fact, since 1960, approximately 1.5 million acres of American farmland have been converted to nonagricultural uses each year.
This week, I will introduce legislation aimed at slowing this trend that threatens family farms and our cherished open spaces. The Family Farm Preservation Act would encourage farmers to continue farming their land by exempting them from capital gains taxes when they sell their land development rights to qualified groups committed to conservation. Without protection from this significant tax burden, too many farmers are being forced to sell their land to developers, and that means fewer family farms and ever-shrinking open spaces.
By giving farmers an incentive to continue farming their land, this bill helps preserve the cherished way of life while protecting beautiful American landscapes at the same time. I hope all my colleagues will support the Family Farm Preservation Act.