H.R. 2480 · 108th Congress
To amend the Internal Revenue Code of 1986 to reduce estate and gift tax rates to 30 percent, to increase the…
Full title
To amend the Internal Revenue Code of 1986 to reduce estate and gift tax rates to 30 percent, to increase the exclusion equivalent of the unified credit to $10,000,000, and to increase the annual gift tax exclusion to $50,000.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
No cosponsors.
Amends the Internal Revenue Code to: (1) reduce estate and gift tax rates to 30 percent; (2) increase the exclusion equivalent of the unified credit to $10 million; and (3) increase the annual gift tax exclusion to $50,000.
What it does: CRS summary · Introduced in House · Jun 16, 2003
Amends the Internal Revenue Code to: (1) reduce estate and gift tax rates to 30 percent; (2) increase the exclusion equivalent of the unified credit to $10 million; and (3) increase the annual gift tax exclusion to $50,000.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to reduce estate and gift tax rates to 30 percent, to increase the exclusion equivalent of the unified credit to $10,000,000, and to increase the annual gift tax exclusion to $50,000.
Latest action (Jun 16, 2003): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 16, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.