[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 495 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 495

   To amend the Internal Revenue Code of 1986 to double the maximum 
benefit under the special estate tax valuation rules for certain farm, 
                          etc., real property.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 21, 1997

  Mr. Thomas introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to double the maximum 
benefit under the special estate tax valuation rules for certain farm, 
                          etc., real property.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DOUBLING OF MAXIMUM BENEFIT UNDER SPECIAL ESTATE TAX 
              VALUATION RULES FOR CERTAIN FARM, ETC., REAL PROPERTY.

    (a) In General.--Paragraph (2) of section 2032A(a) of the Internal 
Revenue Code of 1986 (relating to limitation on aggregate reduction in 
fair market value) is amended by striking ``$750,000'' and inserting 
``$1,500,000''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to decedents dying after the date of the enactment of this Act.
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