The Illinois Farm Bureau has released a statement regarding legislative efforts to protect family farms…
“Members of the Illinois General Assembly announced today the Family Farm Preservation Act, a bipartisan effort to protect farm families and their land by updating the Illinois Estate Tax code. The measure is being spearheaded by Sen. Dave Koehler, D-Peoria, and Rep. Sharon Chung, D-Bloomington.
Illinois Farm Bureau (IFB) President Brian Duncan commented on the legislation, which aims to ensure families may continue passing down their farms to the next generation. More about the Family Farm Preservation Act is available here.
“Passing on the family farm is not just about continuing the business, it’s about preserving family heritage and a way of life,” said IFB President Brian Duncan. “Yet the current Illinois estate tax often forces families to break up the farm by selling land, livestock or even equipment every time the business passes on to the next generation. A death of a loved one should not be a death sentence for the family farm.
“IFB thanks Sen. Dave Koehler and Rep. Sharon Chung for introducing the Family Farm Preservation Act and applauds the bipartisan effort of our state legislators to ensure Illinois’ family farms can continue providing food, fuel and fiber without fear of losing the business when a family member dies.”
In addition to Kohler and Chung, six other General Assembly members helped announce introduction of the bill, underscoring the bipartisanship effort: Sen. Patrick Joyce, D-Essex, Sen. Sue Rezin, R-Morris, Sen. Tom Bennett, R-Gibson City, Rep. Charlie Meier, R-Okawville, Rep. Norine Hammond, R-Macomb, and Jason Bunting, R-Emington.”
