A bill to amend the Internal Revenue Code of 1954 to increase the exemption for purposes of the Federal estate tax and to provide an alternate method of valuing certain real property for estate tax purposes.

referredUnited States· United States Congress· EN

Introduced

26 June 1975

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Increases, under the Internal Revenue Code, the exemption for purposes of the Federal estate tax from $60,000 to $125,000. Provides an alternate method of valuing farmland and woodland used for the commercial production of trees for estate tax purposes.

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Documents

1 official file

Introduced in Senate
summary · EN · 26 June 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/senate-bill/2038
Open data entity: https://api.congress.gov/v3/bill/94/s/2038