Bill
Bill > HR6228
US HR6228
To amend the Internal Revenue Code of 1986 to make permanent the increase in the estate and gift tax exemption made by Public Law 115-97.
summary
Introduced
06/26/2018
06/26/2018
In Committee
06/26/2018
06/26/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to make permanent the increase in the estate and gift tax exemption made by Public Law 115-97. This bill amends the Internal Revenue Code to make permanent the $10 million exemption amount for the estate and gift tax. (Under current law, the exemption amount has been temporarily increased from $5 million to $10 million for decedents dying or gifts made after December 31, 2017, and before January 1, 2026. The amount is indexed for inflation after 2011.)
AI Summary
This bill amends the Internal Revenue Code to make permanent the $10 million exemption amount for the estate and gift tax. This exemption amount was temporarily increased from $5 million to $10 million for decedents dying or gifts made after December 31, 2017, and before January 1, 2026. The bill also makes conforming amendments to the gift tax provisions to ensure the permanent $10 million exemption amount is applied consistently. These changes would apply to estates of decedents dying and gifts made after December 31, 2017.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to the House Committee on Ways and Means. (on 06/26/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/6228/all-info |
| BillText | https://www.congress.gov/115/bills/hr6228/BILLS-115hr6228ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr6228/BILLS-115hr6228ih.pdf.pdf |
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