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United States · Bill · S

S. 519 (97th)

Family Enterprise Protection Act of 1981

openUnited States· United States Congress· EN

Introduced

20 February 1981

Last action

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Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Sponsors

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Subjects

Discovery layer

Source updated

29 August 2025

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Summary

Family Enterprise Protection Act of 1981 - Amends the Internal Revenue Code to increase the unified credit against the estate and gift tax from $47,000 to $155,800. Provides for a phase-in amount of such credit in 1981 of $121,800. Increases from $175,000 to $500,000 the minimum gross estate for which the filing of a tax return is required. Increases the amount of the annual gift tax exclusion from $3,000 to $10,000.

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Documents

1 official file

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