US Congress House Bill 4015 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 2)
Status: Introduced on November 4 2009 - 25% progression, died in committee
Action: 2009-11-04 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Family Farm and Small Business Tax Relief Act of 2009 - Extends the estate and gift tax rates in effect in 2009 by eliminating the general terminating date (i.e., December 31, 2010) in the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) applicable to such rates. Amends the Internal Revenue Code to: (1) establish a permanent $3.5 million estate tax exclusion (adjusted for inflation) and a maximum estate and gift tax rate of 45% after 2010; (2) restore after 2010 the estate tax deduction for family-owned business interests and increase the amount of such deduction to $8 million (adjusted annually for inflation); and (3) exclude from the gross estate of a decedent the value of farmland used as a farm for farming purposes.

Family Farm and Small Business Tax Relief Act of 2009

Rep. Jerry McNerney [D-CA]

Rep. Thomas Perriello [D-VA]

Date	Chamber	Action
2009-11-04		Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/4015/all-info
Text	https://www.congress.gov/111/bills/hr4015/BILLS-111hr4015ih.pdf