Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses.

House Resolution 237 expresses official congressional support for maintaining the "stepped-up basis," a tax rule that allows individuals who inherit assets—such as land, equipment, or buildings—to value those items at their current market price rather than the original purchase price. By keeping this rule in place, the resolution aims to prevent heirs from facing significant capital gains taxes on the increased value of property that has been held by a family for decades. The measure specifically highlights the role of this tax provision in helping family-owned farms and small businesses transition between generations without being forced to sell assets to pay a tax bill.