3.0.0 4174 2023-01-11T13:17:00Z 2023-01-11T13:17:00Z House H HR 2009-12-02 111 hswm00 Ways and Means Committee House Standing Referred to 2009-12-02T15:03:35Z 2009-12-02 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2009-12-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-12-02 Introduced in House IntroReferral 1000 9 Library of Congress N000183 Rep. Nye, Glenn C. [D-VA-2] Glenn Nye D VA C. 2 N Taxation Capital gains tax Housing finance and home ownership Income tax exclusion Public contracts and procurement Securities Small business Tax administration and collection, taxpayers Transfer and inheritance taxes Taxation 00 2009-12-02 Introduced in House 2009-12-24T16:28:04Z Tax Relief for Business Growth and Sustainability Act of 2009 - Makes the general terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (i.e., December 31, 2010) inapplicable to its estate and gift tax provisions, except for the repeal of the carryover basis.

Amends the Internal Revenue Code to: (1) allow a permanent increase (to $5 million) in the estate tax exclusion and a reduction in the maximum estate tax rate to 35%; (2) increase to $5 million the estate tax deduction for interests in family-owned businesses; (3) allow an estate tax deduction, up to $2 million, of the value of the principal residence of a decedent; (4) increase from 50 to 100% the exclusion from gross income of gain from the sale or exchange of qualified small business stock held for more than 5 years; (5) eliminate gain from the sale of qualified small business stock in calculating the alternative minimum tax (AMT); and (6) repeal the requirement that federal, state, and local governmental entities withhold 3% of payments due to vendors providing goods and services to such entities.

]]> Tax Relief for Business Growth and Sustainability Act of 2009 Display Title Tax Relief for Business Growth and Sustainability Act of 2009 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide relief with respect to estate and gift taxes, small businesses, and government contractors. Introduced in House IH Short Titles as Introduced Tax Relief for Business Growth and Sustainability Act of 2009 Introduced in House 2009-12-02T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4174ih/xml/BILLS-111hr4174ih.xml 2009-12-02 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.