S.2173 - Family Business Estate Tax Relief Act of 1996104th Congress (1995-1996)
|Sponsor:||Sen. Dorgan, Byron L. [D-ND] (Introduced 09/30/1996)|
|Committees:||Senate - Finance|
|Latest Action:||10/03/1996 Sponsor introductory remarks on measure. (CR S12258) (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: S.2173 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in Senate (09/30/1996)
Family Business Estate Tax Relief Act of 1996 - Amends the Internal Revenue Code to exclude from a family-owned business' gross estate up to $900,000 of family-owned business interest (in addition to the existing $600,000 estate and gift tax credit), provided that the heirs continue to materially participate in the business for a specified period after the owner's death.
Increases the portion of the estate tax subject to the "four- percent" (interest) rule.