A bill to prevent proposed regulations relating to restrictions on liquidation of an interest with respect to estate, gift, and generation-skipping transfer taxes from taking effect.

Protect Family Farms and Businesses Act This bill prohibits proposed Internal Revenue Service regulations published on August 4, 2016, relating to restrictions on liquidation of an interest with respect to estate, gift, and generation-skipping transfer taxes from taking effect. The bill prohibits funds from being used to finalize, implement, administer, or enforce the proposed regulations or any substantially similar regulations.