S.1994: A bill to amend the Internal Revenue Code of 1986 to exempt certain farmland from the estate tax.

Amends the Internal Revenue Code to exclude from the gross estate of a decedent the value of farmland used by an heir of the decedent for farming purposes. Imposes a recapture tax on an heir who disposes of such farmland after the decedent's death or who ceases to use it for farming purposes.