H.R.16 - Sensible Estate Tax Relief Act of 2012112th Congress (2011-2012)
|Sponsor:||Rep. Levin, Sander M. [D-MI-12] (Introduced 07/30/2012)|
|Committees:||House - Budget; Ways and Means|
|Latest Action:||07/30/2012 Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.|
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Summary: H.R.16 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (07/30/2012)
Sensible Estate Tax Relief Act of 2012 - Extends through 2013 provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 pertaining to estates, gifts, and generation-skipping transfers.
Amends the Internal Revenue Code to: (1) allow a basic estate tax exclusion amount of $3.5 million, and (2) establish a maximum 45% estate tax rate.
Exempts the budgetary effects of this Act from the Statutory Pay-As-You-Go Act of 2010.