Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act

referredUnited States· United States Congress· EN

Introduced

27 April 2005

Last action

27 April 2005 · Introduced

Status

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4423-4425)

Summary

Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act - Amends the Internal Revenue Code to revise the estate tax exclusion provisions applicable to family-owned business interests. Allows an exclusion from the gross estate for the adjusted value of certain family business interests acquired from a decedent (carryover business interests). Defines "carryover business interests" and revises ownership requirements and material participation rules applicable to such interests. Provides that carryover business interests acquired from a decedent shall be treated as transferred by gift and that the basis of such property shall be the lesser of the adjusted basis of the decedent, or the fair market value of such property at the date of the decedent's death (thus eliminating the estate tax on such property).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

27 April 2005
Introduced
Introduced in Senate
Source: IntroReferral
27 April 2005
Introduced
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4423-4425)
Source: IntroReferral
27 April 2005
Introduced
Sponsor introductory remarks on measure. (CR S4422-4423)
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 27 April 2005 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 27 April 2005
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Introduced in Senate (PDF)
Introduced in Senate · EN · 27 April 2005
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Introduced in Senate
summary · EN · 27 April 2005
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/109th-congress/senate-bill/928
Open data entity: https://api.congress.gov/v3/bill/109/s/928
us · 109-s-928 · source updated 15 August 2025