3.0.0 3626 2023-01-13T04:50:35Z 2023-01-13T04:50:35Z Senate S S 2006-06-29 109 ssfi00 Finance Committee Senate Standing Referred to 2006-06-29T22:21:19Z To amend the Internal Revenue Code of 1986 to restore the estate tax and repeal the carryover basis rule, to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, and to reduce the rate of the estate and gifts taxes to the generally applicable capital gains income tax rate. 109 5421 HR 2006-05-18 Referred to the House Committee on Ways and Means. Related bill CRS Permanent Estate Tax Relief Act of 2006 109 5638 HR 2006-06-26 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 496. Related bill CRS Estate Tax and Extension of Tax Relief Act of 2006 109 5970 HR 2006-08-03 Motion by Senator Frist to reconsider the vote by which the motion to invoke cloture on the motion to proceed to H.R. 5970 was not agreed to (Roll Call No. 229) entered in Senate. Related bill CRS 2006-06-29 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2006-06-29 Sponsor introductory remarks on measure. (CR S6806-6807) IntroReferral B00100 9 Library of Congress 2006-06-29 Introduced in Senate IntroReferral 10000 9 Library of Congress L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA N Taxation Agriculture and Food Commerce Congress Economics and Public Finance Estate tax Families Family enterprises Family farms Farms Gift tax Indexing (Economic policy) Inheritance tax Real estate appraisal Sunset legislation Tax deductions Tax exclusion Tax rates Taxation 00 2006-06-29 Introduced in Senate 2006-07-22T15:54:11Z Estate Tax Relief and Reform Act of 2006 - Amends the Internal Revenue Code to: (1) increase the estate tax exclusion to $5 million in 2010; (2) adjust such exclusion amount for inflation; (3) impose a flat 35% estate tax rate; (4) increase to $5 million the reduction in fair market value for certain inherited farm and business property; and (5) increase to $2.5 million the maximum estate tax deduction for family-owned business interests and make such deduction permanent.

Provides that the general termination date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (i.e., December 31, 2010) shall not apply to its estate, gift, and generation-skipping transfer tax provisions that are not amended by this Act.

]]> Estate Tax Relief and Reform Act of 2006 Display Title Estate Tax Relief and Reform Act of 2006 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide estate tax relief and reform, and for other purposes. Introduced in Senate IS Short Titles as Introduced Estate Tax Relief and Reform Act of 2006 Popular Titles Estate Tax bill 9 Library of Congress Introduced in Senate 2006-06-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s3626is/xml/BILLS-109s3626is.xml 2006-06-29 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.