HR 4172
110th Congress
House
Taxation
Congress
Cost of living adjustments
Economics and Public Finance
Estate tax
Finance and Financial Sector
Gift tax
Indexing (Economic policy)
Inheritance tax
Sunset legislation
Tax credits
Valuation
To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3,500,000.
Introduced: November 14, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 14, 2007
Referred to the House Committee on Ways and Means.
Nov 14, 2007
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to: (1) restore the tax on estates and generation-skipping transfers; (2) repeal the termination of provisions allowing a step-up in basis for property transferred by a decedent; and (3) increase the estate tax exclusion amount to $3.5 million, with an annual inflation adjustment to such amount beginning in 2008.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1