To amend the Internal Revenue Code of 1986 to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, and for other purposes.

157

53829 1231477200

false

1231477200

436

2970

111

400323

1/9/2009--Introduced.Certain Estate Tax Relief Act of 2009 - Restores the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent, previously repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). 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 to $3.5 million of the estate tax exclusion (eliminating the phase-in period); (2) impose a maximum estate tax rate of 45% ; (3) restore the phaseout of graduated estate tax rates and the unified credit against the estate tax; (4) set forth estate valuation rules for certain transfers of nonbusiness assets; and (5) limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent.

1231477200

2009-01-09

Fri Nov 13 12:24:28 -0600 2009

introduced

53829

'3':44 '000':46 '500':45 'new':12 'tax':20,41 '1986':8 'basi':14 'code':6 'mani':29 'rule':15 'amend':2 'estat':31,40 'order':17 'would':33 'burden':27 'exempt':47 'intern':4 'purpos':51 'repeal':10,36 'retain':38 'revenu':5 'benefit':34 'carryov':13 'imposit':24 'increas':21 'prevent':19 'complianc':26

66347

false

To amend the Internal Revenue Code of 1986 to repeal the new carryover basis rules in order to prevent tax increases and the imposition of compliance burdens on many more estates than would benefit from repeal, to retain the estate tax with a $3,500,000 exemption, and for other purposes.

official

introduced

53829

'act':5 'tax':3 '2009':7 'estat':2 'relief':4 'certain':1

66718

false

Certain Estate Tax Relief Act of 2009

short

action

53829

1231477200 Fri Jan 09 00:00:00 -0600 2009 180263

Referred to the House Committee on Ways and Means.

P000422 1952-09-02

3128

1501 Longworth House Office Building

http://www.house.gov/formpomeroy/zipauth.htm

0 202-226-0893 Earl

'd':4 '-0':6 'nd':5 'rep':1 'earl':2,7,9 'pomeroy':3,8,10

M 400323 Pomeroy

Earl_Pomeroy

Ralph Rep. Earl Pomeroy [D, ND-0]

2151

N00008113

7498

Democrat 202-225-2611 Presbyterian ND

Rep.

Earl Pomeroy

5.0

http://www.pomeroy.house.gov/

earlpomeroy

E000226 1941-08-07

2613

1533 Longworth House Office Building

http://etheridge.house.gov/Contact/

2 202-225-5662 Bob

'd':4 '-2':6 'nc':5 'bob':2,7,9 'rep':1 'etheridg':3,8,10

M 400125 Etheridge

Bob_Etheridge

R. Rep. Bob Etheridge [D, NC-2]

1387

N00002269

6277

Democrat 202-225-4531 Presbyterian NC

Rep.

Bob Etheridge

3.5

http://www.house.gov/etheridge/

action

53829

1231477200 Fri Jan 09 00:00:00 -0600 2009 180263

Referred to the House Committee on Ways and Means.

introduced

53829

1231477200 Fri Jan 09 00:00:00 -0600 2009 180262