Modification of rules for value of certain farm, etc., real property

(a) In general Paragraph (2) of section 2032A(a) of the Internal Revenue Code of 1986 is amended by striking $750,000 and inserting $3,000,000. (b) Inflation adjustment Paragraph (3) of section 2032A(a) of such Code is amended— (1) by striking 1998 and inserting 2026, (2) by striking $750,000 each place it appears and inserting $3,000,000, and (3) by striking calendar year 1997 and inserting calendar year 2025 in subparagraph (B). (c) Effective date The amendments made by this section shall apply to estates of decedents dying, and gifts made, after December 31, 2025.