Certain and Immediate Estate Tax Relief Act of 2005

Summary

Certain and Immediate Estate Tax Relief Act of 2005 - Restores the tax on estates and generation-skipping transfers and the step-up in basis provisions for property acquired from a decedent, previously repealed by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Declares that the sunset provision (general terminating date of December 10, 2010) of EGTRRA shall not apply to title V of such Act ( Estate, Gift, and Generation-Skipping Transfer Tax Provisions). Amends the Internal Revenue Code to: (1) provide for an immediate increase to $3 million of the estate tax exclusion (eliminating the phase-in period); (2) impose a maximum estate tax rate of 47 percent; (3) restore the phaseout of graduated estate tax rates and the unified credit against the estate tax; (4) set forth estate valuation rules for certain transfers of nonbusiness assets; and (5) limit estate tax discounts for certain individuals with minority interests in a business acquired from a decedent.

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Timeline

1. 12 April 2005

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 April 2005

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 April 2005

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 April 2005 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 April 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 April 2005

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 12 April 2005

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Pomeroy, Earl [D-ND-At Large] · D · Sponsor
• Rep. Allen, Thomas H. [D-ME-1] · D · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Sponsor
• Rep. Holden, Tim [D-PA-17] · D · Sponsor
• Rep. Gonzalez, Charles A. [D-TX-20] · D · Sponsor
• Rep. Lipinski, Daniel [D-IL-3] · D · Sponsor
• Rep. Obey, David R. [D-WI-7] · D · Sponsor
• Rep. Eshoo, Anna G. [D-CA-18] · D · Cosponsor
• Rep. Costa, Jim [D-CA-21] · D · Cosponsor
• Rep. Larson, John B. [D-CT-1] · D · Cosponsor
• · hswm00 · Standing

Related records

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