A bill to amend the Internal Revenue Code of 1954 to exclude from the gross estate the amount of any life insurance on the decedent which is payable to a beneficiary other than the decedent's estate to the extent that such insurance is attributable to premiums paid by the beneficiary.

Summary

Amends the estate tax provisions of the Internal Revenue Code to exclude from the gross estate that portion of the amount receivable by any beneficiary as insurance under any policy on the life of the decedent which bears the same ratio to the amount so receivable by the beneficiary as the amount of the premiums paid on such policy by the beneficiary bears to the total amount of the premiums paid on such policy.

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1 official file

• Introduced in House

  summary · EN · 18 March 1976

  Open at official source

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