H.R.3841 - Small Business and Family Farm Estate Tax Relief Act of 2009

To amend the Internal Revenue Code of 1986 to repeal carryover basis for decedents dying in 2009, to increase the estate tax exemption to $5,000,000, and to reduce the maximum estate and gift tax rate to 45 percent. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to repeal carryover basis for decedents dying in 2009, to increase the estate tax exemption to $5,000,000, and to reduce the maximum estate and gift tax rate to 45 percent. as introduced.
  • Short: Small Business and Family Farm Estate Tax Relief Act of 2009 as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 3
  • Past Seven Days: 6
  • All-Time: 1,766
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
10/15/09
 
 
 
 
 
 
 

Sponsor

Representative

Kurt Schrader

D-OR

No Co-Sponsors

Official Summary

Small Business and Family Farm Estate Tax Relief Act of 2009 - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a deced

Official Summary

Small Business and Family Farm Estate Tax Relief Act of 2009 - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009. Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act (Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to:
(1) provide for an increase the estate tax exclusion to $5 million (eliminating the phase-in period); and
(2) impose a maximum estate tax rate of 45%.

...Read the Rest




Vote on This Bill

75% Users Support Bill

3 in favor / 1 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC