H.R.1624: Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

About This Bill

Bill Summary

Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005 - Amends the Internal Revenue Code to revise the estate tax exclusion for family-owned business interests. Repeals the maximum $675,000 deduction for such interests and allows heirs of qualified interests to exclude the adjusted value of such interests from the gross estate. Defines "qualified family-owned business interests" and revises ownership requirements and material...

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
April 13, 2005

Introduced in the House by Mike Thompson (D-Calif.)

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