There is one summary. Bill summaries are authored by CRS.

Shown Here:
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.