H.R. 1574 · 109th Congress
To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001…
Full title
To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3,500,000.
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MooreSponsor11 cosponsors · 11 D
D
Case
MB
D
Berry
LB
D
Boswell
JC
D
Costello
SI
D
Israel
MM
D
Michaud
SB
D
Brown
DL
D
Lipinski
DD
D
DeGette
BB
D
Baird
RC
D
Carnahan1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to: (1) restore the tax on estates and generation-skipping transfers; (2) repeal the termination of provisions allowing a step-up in basis for property transferred by a decedent; and (3) increase the estate tax exclusion amount to $3.5 million, with an annual inflation adjustment to such amount beginning in 2007.
What it does: CRS summary · Introduced in House · Apr 12, 2005
Amends the Internal Revenue Code to: (1) restore the tax on estates and generation-skipping transfers; (2) repeal the termination of provisions allowing a step-up in basis for property transferred by a decedent; and (3) increase the estate tax exclusion amount to $3.5 million, with an annual inflation adjustment to such amount beginning in 2007.
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 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3,500,000.
Latest action (Apr 12, 2005): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 12, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.