3.0.0 4042 2023-01-11T20:16:50Z 2023-01-11T20:16:50Z House H HR 2007-11-01 110 hswm00 Ways and Means Committee House Standing Referred to 2007-11-01T14:02:05Z 2007-11-01 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-11-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-11-01 Introduced in House IntroReferral 1000 9 Library of Congress M001166 Rep. McNerney, Jerry [D-CA-11] Jerry McNerney D CA 11 N S001173 Rep. Space, Zachary T. [D-OH-18] Zachary Space D OH T. 18 2007-11-01 True P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2007-11-01 True S001143 Rep. Souder, Mark E. [R-IN-3] MARK SOUDER R IN EDWARD 3 2007-11-06 False Taxation Agriculture and Food Commerce Economics and Public Finance Estate tax Families Family enterprises Family farms Home ownership Housing and Community Development Indexing (Economic policy) Inheritance tax Tax credits Tax deductions Tax exclusion Tax rates Taxation

00 2007-11-01 Introduced in House 2007-12-20T19:03:59Z Family Farm, Small Business, and Home Tax Relief Act - Amends the Internal Revenue Code to: (1) accelerate from 2009 to 2008 the $3.5 million unified estate tax credit and adjust such credit amount for inflation in calendar years after 2008; (2) reduce the maximum estate tax rate from 49 to 43% in 2008; (3) restore and increase to $8 million the estate tax deduction for family-owned business interests and adjust such deduction amount for inflation after 2008; (4) accelerate from 2010 to 2008 the repeal of the tax on generation-skipping transfers; and (5) allow an exclusion, in calculating the gross estate for estate tax purposes, of the adjusted value of a decedent's principal residence, up to $2 million.

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Official Title as Introduced Introduced in House IH Display Title Short Titles as Introduced Introduced in House 2007-11-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr4042ih/xml/BILLS-110hr4042ih.xml 2007-11-01 Referred to the House Committee on Ways and Means. 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.