To amend the Internal Revenue Code of 1986 to provide that the extension of time for payment of the estate tax on property valued under section 2032A of such Code shall not be terminated by reason of a disposition of the property to a member of the qualified heir's family.

Summary

Amends the Internal Revenue Code to exclude dispositions of land valued under use value principles and transferred to a member of the qualified heir's family from provisions requiring accelerated payment of deferred estate tax liability in qualified instances in which the estate consists largely of interest in a closely held business.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 28 February 1989

   Introduced

   Introduced in House

   Source: IntroReferral

2. 28 February 1989

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 28 February 1989

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 February 1989

  Open at official source

Sponsors

• Rep. Panetta, Leon [D-CA-16] · D · Sponsor
• · hswm00 · Standing

Related records

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