The exemption the Deputy is referring to is a relief known as young trained farmers relief. This relief was introduced by section 112 of the Finance Act, 1994, which provided for a two-thirds reduction in stamp duty on the transfer of land to a young trained farmer. This relief was introduced on foot of commitments in the Programme for Competitiveness and Work for a three year period until 31 December 1996.
In the context of structural reform identified in the Partnership 2000 programme, section 126 of the Finance Act, 1997, extended the relief for a further three years, up to 31 December 1999. Under the terms of the Programme for Prosperity and Fairness, the two-thirds relief was increased to full stamp duty relief in section 126 of the Finance Act, 2000, for a further three years until 31 December 2002. It is estimated that the cost of this relief in 2002 will amount to €9.4 million.