H.R. 436 (111th): Certain Estate Tax Relief Act of 2009

Introduced:
Jan 09, 2009 (111th Congress, 2009–2010)
Sponsor:
Rep. Earl Pomeroy [D-ND0]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on January 9, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 09, 2009
Cosponsors
1 cosponsors (1D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

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.

Summary

No summaries available.

Text

Read Bill Text »

Last updated Jan 09, 2009.
8 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

1/9/2009--Introduced.
Certain Estate Tax Relief Act of 2009 - Repeals provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) eliminating the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent for estates of decedents dying after 2009. 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.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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