HR 8 107th Congress House Taxation Administrative remedies Agriculture and Food Capital gains tax Close corporations Commerce Conservation easements Department of the Treasury Environmental Protection Estate tax Families Family enterprises Family farms Finance and Financial Sector Fines (Penalties) Gift tax Government Operations and Politics Governmental investigations Housing and Community Development Housing finance

Death Tax Elimination Act of 2001

Introduced: March 14, 2001 See on congress.gov

Everywhere this bill has been 28 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 12, 2002

Returned to the Calendar. {pursuant to the order of April 23, 2002}.

Jun 12, 2002

Considered by Senate. (consideration: CR S5398-5434)

Jun 11, 2002

Measure laid before Senate by unanimous consent. (consideration: CR S5343-5358)

Aug 13, 2001

See H.R.1836.

Apr 6, 2001

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 33.

Apr 5, 2001

Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

Apr 4, 2001

On passage Passed by the Yeas and Nays: 274 - 154 (Roll no. 84).

Apr 4, 2001

Motion to reconsider laid on the table Agreed to without objection.

Apr 4, 2001

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 274 - 154 (Roll no. 84).

Apr 4, 2001

On motion to recommit with instructions Failed by recorded vote: 192 - 235 (Roll No. 83). (text: CR H1456)

Apr 4, 2001

The previous question on the motion to recommit with instructions was ordered without objection.

Apr 4, 2001

Floor summary: DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions.

Apr 4, 2001

Mr. Pomeroy moved to recommit with instructions to Ways and Means.

Apr 4, 2001

The previous question on the amendment and on the bill as amended, was ordered pursuant to the provisions of H. Res. 111.

Apr 4, 2001

DEBATE - Pursuant to the provisions of H. Res. 111, the House proceeded with one hour of debate on the Rangel amendment in the nature of a substitute.

Apr 4, 2001

DEBATE - The House proceeded with one hour of debate on H.R. 8.

Apr 4, 2001

Rule provides for consideration of H.R. 8 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The amendment recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted. Measure will be considered read. A specified amendment is in order.

Apr 4, 2001

Considered under the provisions of rule H. Res. 111. (consideration: CR H1424-1458)

Apr 4, 2001

Rule H. Res. 111 passed House.

Apr 3, 2001

Rules Committee Resolution H. Res. 111 Reported to House. Rule provides for consideration of H.R. 8 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The amendment recommended by the Committee on Ways and Means now printed in the bill shall be considered as adopted. Measure will be considered read. A specified amendment is in order.

Apr 3, 2001

Placed on the Union Calendar, Calendar No. 26.

Apr 3, 2001

Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-37. (text of measure as reported: CR 4/4/2001 H1424-1426)

Apr 3, 2001

Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-37.(text of measure as reported: CR 4/4/2001 H1424-1426)

Mar 29, 2001

Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 14.

Mar 29, 2001

Committee Consideration and Mark-up Session Held.

Mar 14, 2001

Committee Hearings Held Prior to Introduction (Feb 13, 2001).

Mar 14, 2001

Referred to the House Committee on Ways and Means.

Mar 14, 2001

Introduced in House

Votes taken on this bill 2

Date	Chamber	What was voted on	Result	Yes–No
Apr 4, 2001	House · vote #84	On Passage	Passed	274–154	See who voted →
Apr 4, 2001	House · vote #83	On Motion to Recommit with Instructions	Failed	192–235	See who voted →

Plain-English summary Congressional Research Service

Death Tax Elimination Act - Repeals the estate tax, gift tax, and the tax on generation-skipping transfers, effective January 1, 2011. Provides for annual reductions of the tax until such date.

Increases the unified estate and gift tax credit to $1.3 million.

Repeals the estate and gift tax provisions applicable to family-owned businesses.

Amends provisions concerning the special rules for allocation of the generation-skipping tax (GST) exemption to provide, as a general rule, that: (1) if any individual makes an indirect skip during such individual's lifetime, any unused portion of such individual's GST exemption shall be allocated to the property transferred to the extent necessary to make the inclusion ratio for such property zero; and (2) if the amount of the indirect skip exceeds such unused portion, the entire unused portion shall be allocated to the property transferred.

Declares that, if a trust is severed in a qualified severance, the trusts resulting from such severance shall be treated as separate trusts thereafter.

Revises valuation rules for gifts for which a gift tax return was filed or deemed allocation made. Provides that, if an allocation of the GST exemption to any transfers of property is deemed to have been made at the close of an estate tax inclusion period, the value of the property shall be its value at such time.

Directs the Secretary of the Treasury to prescribe circumstances and procedures under which extensions of time will be granted to make an allocation of GST exemption or an election not to apply specified allocation requirements to certain lifetime direct skips, indirect skips, or transfers to a particular trust.

Increases the permissible number of partners or shareholders in a closely held business for purposes of eligibility for an extension of estate tax payments.

What's happening now June 12, 2002

Returned to the Calendar. {pursuant to the order of April 23, 2002}.

Committees of jurisdiction 1