H.R. 4015 · 111th Congress
Family Farm and Small Business Tax Relief Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
McNerneySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Family Farm and Small Business Tax Relief Act of 2009 - Extends the estate and gift tax rates in effect in 2009 by eliminating the general terminating date (i.e., December 31, 2010) in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to such rates.
What it does: CRS summary · Introduced in House · Nov 4, 2009
Family Farm and Small Business Tax Relief Act of 2009 - Extends the estate and gift tax rates in effect in 2009 by eliminating the general terminating date (i.e., December 31, 2010) in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to such rates.
Amends the Internal Revenue Code to: (1) establish a permanent $3.5 million estate tax exclusion (adjusted for inflation) and a maximum estate and gift tax rate of 45% after 2010; (2) restore after 2010 the estate tax deduction for family-owned business interests and increase the amount of such deduction to $8 million (adjusted annually for inflation); and (3) exclude from the gross estate of a decedent the value of farmland used as a farm for farming purposes.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Family Farm and Small Business Tax Relief Act of 2009
Latest action (Nov 4, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 4, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.