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S 275 107th Congress Senate

Estate Tax Elimination Act of 2001

Official title: A bill to amend the Internal Revenue Code of 1986 to repeal the Federal estate and gift taxes and the tax on generation-skipping transfers, to preserve a step … Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to repeal the Federal estate and gift taxes and the tax on generation-skipping transfers, to preserve a step up in basis of certain property acquired from a decedent, and for other purposes.

Introduced: March 14, 2001 See on congress.gov
Taxation Administrative procedureArt objectsArts, Culture, ReligionCapital gains tax
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Charitable contributionsCopyrightCost of living adjustmentsDepartment of the TreasuryEconomics and Public FinanceEstate taxEstates (Law)Finance and Financial SectorGift taxGovernment Operations and PoliticsHousing and Community DevelopmentIncome taxIndexing (Economic policy)Inheritance taxIntellectual propertyLawPersonal income taxReal estate appraisalTax cutsTax deductionsTax returnsValuation
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 15, 2001
Committee on Finance. Hearings held.
Feb 15, 2001
Sponsor introductory remarks on measure. (CR S1442-1445)
Feb 7, 2001
Read twice and referred to the Committee on Finance.
Feb 7, 2001
Sponsor introductory remarks on measure. (CR S1131)
Feb 7, 2001
Introduced in Senate
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 Latest action March 15, 2001

Committee on Finance. Hearings held.

 Plain-English summary Congressional Research Service
Estate Tax Elimination Act of 2001 - Amends the Internal Revenue Code to eliminate Federal estate, gift, and transfer taxes. Limits the aggregate step up basis of certain property acquired from a decedent to the aggregate basis of such property plus $2.8 million. Provides for an inflation adjustment.

States that the basis for carryover basis property (as defined by this Act) shall be determined under the provision respecting the basis of property acquired by gifts or transfers in trust (section 1015). Describes noncarryover basis property. Directs an executor to provide the Secretary of the Treasury with related information.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Collins, Susan M.
Maine · Mar 14, 2001
 D
Wyden, Ron
Oregon · Feb 28, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). S. 275: Estate Tax Elimination Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-S-275/
MLA
"S. 275: Estate Tax Elimination Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-S-275/.
Bluebook (legal)
S. 275, 107th Cong. (2026), https://openamerica.io/bill/107-S-275/.
Markdown link
[S. 275: Estate Tax Elimination Act of 2001](https://openamerica.io/bill/107-S-275/)
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