American Family Farm and Ranch Protection

Floor Speech

AMERICAN FAMILY FARM AND RANCH PROTECTION -- (Extensions of Remarks - October 01, 2007)

* Mr. BLUMENAUER. Madam Speaker, today I am proud to join with my colleague, Representative PHIL ENGLISH, to introduce the American Family Farm and Ranch Protection Act,'' which will help conserve and protect our nation's vital lands, farms, and ranches.

* The voluntary placement of a conservation easement on private land is a very effective and successful tool for protecting and conserving our Nation's open spaces and sensitive lands.

* In 1997, in order to encourage the conservation of sensitive lands and farms, Congress enacted an estate tax exclusion for land placed under a conservation easement. Unfortunately, the original bill capped the exclusion at $500,000. Our bill would update and increase this estate tax exclusion to $5 million.

* Given the significant rise in land values over the past decade, the increased exclusion provides a meaningful and in many cases necessary increase in the estate tax incentive as a way to encourage and allow individuals to place conservation easements on their land.

* Our Nation's family farmers, whose most significant asset is often their land, provide a glaring example of why this legislation is needed. When the owner of the farm dies, surviving family members are often forced to sell all or a significant portion of the farm just to pay the estate tax bill. This legislation would help ensure that families are not forced to sell the farm and that their land resources are available for agricultural use by future generations.

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