H.R. 3841 (111th): Small Business and Family Farm Estate Tax Relief Act of 2009

Introduced:
Oct 15, 2009 (111th Congress, 2009–2010)
Status:
Died (Referred to Committee)
Sponsor
Kurt Schrader
Representative for Oregon's 5th congressional district
Party
Democrat
Text
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Last Updated
Oct 15, 2009
Length
3 pages
Related Bills
H.R. 4154 (Related)
Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009

Passed House
Last Action: Dec 03, 2009

H.R. 436 (Related)
Certain Estate Tax Relief Act of 2009

Referred to Committee
Last Action: Jan 09, 2009

 
Status

This bill was introduced on October 15, 2009, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 15, 2009
Referred to Committee Oct 15, 2009
 
Full Title

To amend the Internal Revenue Code of 1986 to repeal carryover basis for decedents dying in 2009, to increase the estate tax exemption to $5,000,000, and to reduce the maximum estate and gift tax rate to 45 percent.

Summary

No summaries available.

Cosponsors
none
Committees

House Ways and Means

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

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


10/15/2009--Introduced.
Small Business and Family Farm 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 the estate tax exclusion to $5 million (eliminating the phase-in period); and (2) impose a maximum estate tax rate of 45%.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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