H.R. 308 — Introduced in House

I 115th CONGRESS 1st Session H. R. 308 IN THE HOUSE OF REPRESENTATIVES January 5, 2017Mr. Davidson (for himself, Mr. Zeldin, Mr. Hensarling, Mr. Tiberi, Mr. Brat, Mr. Gohmert, Mr. Abraham, Mrs. Wagner, Mr. Hudson, Mr. King of Iowa, Mr. Barr, Mr. Kelly of Mississippi, Mr. Thompson of Pennsylvania, Mr. Marshall, Mr. Massie, Mr. Gibbs, Mr. Byrne, Mr. McClintock, Mr. Tipton, Mr. Gosar, Mr. Duffy, Mr. Turner, Mr. Harris, Mr. Walden, Mr. Rodney Davis of Illinois, Mr. Blum, and Mrs. Love) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To prevent proposed regulations relating to restrictions on liquidation of an interest with respect to estate, gift, and generation-skipping transfer taxes from taking effect. 1. Short title This Act may be cited as the Protect Family Farms and Businesses Act. 2. Proposed regulations relating to restrictions on liquidation of an interest with respect to estate, gift, and generation-skipping transfer taxes prevented from taking effect The proposed regulations under section 2704 of the Internal Revenue Code of 1986 relating to restrictions on liquidation of an interest with respect to estate, gift, and generation-skipping transfer taxes, published on August 4, 2016, in the Federal Register (81 Fed. Reg. 51413) shall have no force or effect. No Federal funds may be used to finalize, implement, administer, or enforce such proposed regulations or any substantially similar regulations.