summary
Introduced
01/11/2019
01/11/2019
In Committee
01/11/2019
01/11/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to repeal the estate tax and retain stepped-up basis at death. This bill repeals the federal estate tax, effective for estates of decedents dying after December 31, 2018.
AI Summary
This bill, the Permanently Repeal the Estate Tax Act of 2019, proposes to repeal the federal estate tax, effective for estates of decedents dying after December 31, 2018. It would also retain the "stepped-up basis" at death, which means the value of an asset is adjusted to its fair market value at the time of the owner's death, potentially reducing capital gains taxes for the beneficiaries.
Committee Categories
Budget and Finance
Sponsors (9)
Bob Latta (R)*,
Jodey Arrington (R),
Scott DesJarlais (R),
Bob Gibbs (R),
Paul Gosar (R),
Jody Hice (R),
Steve King (R),
Doug LaMalfa (R),
Billy Long (R),
Last Action
Referred to the House Committee on Ways and Means. (on 01/11/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/521/all-info | 01/12/2019 |
| BillText | https://www.congress.gov/116/bills/hr521/BILLS-116hr521ih.pdf | 01/31/2019 |
| Bill | https://www.congress.gov/116/bills/hr521/BILLS-116hr521ih.pdf.pdf | 01/31/2019 |
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