This Act may be cited as the Helping Ensure Rural Inheritance Transfers Are Generationally Enduring Act or the HERITAGE Act.

(a) In general Section 2032A(a)(2) of the Internal Revenue Code of 1986 is amended by striking shall not exceed $750,000 and inserting: shall not exceed— (A) in the case of qualified real property which was being used for a qualified use described in subparagraph (A) of subsection (b)(2), $15,000,000, and (B) in the case of qualified real property which was being used for a qualified use described in subparagraph (B) of such subsection, $750,000.. (b) Conforming amendment Section 2032A(a)(3) of the Internal Revenue Code of 1986 is amended— (1) in the matter preceding subparagraph (A), by striking the $750,000 amount and inserting each dollar amount, and (2) in subparagraph (A), by striking $750,000 and inserting such dollar amount. (c) Effective date The amendments made by this section shall apply to the estates of decedents dying after the date of the enactment of this Act.