S. 3626 · 109th Congress
Estate Tax bill
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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
LandrieuSponsorNo cosponsors.
Estate Tax Relief and Reform Act of 2006 - Amends the Internal Revenue Code to: (1) increase the estate tax exclusion to $5 million in 2010; (2) adjust such exclusion amount for inflation; (3) impose a flat 35% estate tax rate; (4) increase to $5 million the reduction in fair market value for certain inherited farm and business property; and (5) increase to…
What it does: CRS summary · Introduced in Senate · Jun 29, 2006
Estate Tax Relief and Reform Act of 2006 - Amends the Internal Revenue Code to: (1) increase the estate tax exclusion to $5 million in 2010; (2) adjust such exclusion amount for inflation; (3) impose a flat 35% estate tax rate; (4) increase to $5 million the reduction in fair market value for certain inherited farm and business property; and (5) increase to $2.5 million the maximum estate tax deduction for family-owned business interests and make such deduction permanent.
Provides that the general termination date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (i.e., December 31, 2010) shall not apply to its estate, gift, and generation-skipping transfer tax provisions that are not amended by this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Estate Tax Relief and Reform Act of 2006
Latest action (Jun 29, 2006): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 29, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML) · Embed in your story
No recorded floor vote found.