A bill to amend the Internal Revenue Code of 1954 to provide, with respect to certain trusts created before December 31, 1977, a deduction from the gross estate for a Charitable remainder interest in such a trust if such remainder interest is transferred free of trust to charity.

Summary

Amends the Internal Revenue Code, with respect to the estate tax, to provide a deduction from the gross estate for a charitable remainder interest in a trust created after December 31, 1969, and before December 31, 1977: (1) if each income interest is satisfied by a qualified annuity; and (2) if such remainder interest is transferred free of trust to charity. Sets a formula for the determination of the amount of such deduction.

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1 official file

• Introduced in House

  summary · EN · 23 September 1980

  Open at official source

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