H.R.16 - Sensible Estate Tax Relief Act of 2012

To provide estate, gift, and generation-skipping transfer tax relief. view all titles (2)

All Bill Titles

  • Official: To provide estate, gift, and generation-skipping transfer tax relief. as introduced.
  • Short: Sensible Estate Tax Relief Act of 2012 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
07/30/12
 
 
 
 
 
 
 

Sponsor

Representative

Sander Levin

D-MI

View Co-Sponsors (14)

Official Summary

Sensible Estate Tax Relief Act of 2012 - Extends through 2013 provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 pertaining to estates, gifts, and generation-skipping transfers. Amends the Internal Revenue Code to: (1) allow a basic estate tax exclusion amount of $3

Official Summary

Sensible Estate Tax Relief Act of 2012 - Extends through 2013 provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 pertaining to estates, gifts, and generation-skipping transfers. Amends the Internal Revenue Code to:
(1) allow a basic estate tax exclusion amount of $3.5 million, and
(2) establish a maximum 45% estate tax rate. Exempts the budgetary effects of this Act from the Statutory Pay-As-You-Go Act of 2010.

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