H.R.16892 - A bill to amend the Internal Revenue Code of 1954 to increase the exception for purposes of the Federal estate tax, to increase the estate tax marital deduction, and to provide and alternate method of valuing certain real property for estate tax purposes.93rd Congress (1973-1974)
|Sponsor:||Rep. Landgrebe, Earl F. [R-IN-2] (Introduced 09/25/1974)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 09/25/1974 Referred to House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.16892 — 93rd Congress (1973-1974)All Information (Except Text)
Introduced in House (09/25/1974)
Increases the exemption for the Federal estate tax from $60,000 to $200,000.
Limits the aggregate deduction for value of property passed to a surviving spouse to $100,000, plus 50 percent of the value of the adjusted gross estate.
Allows an estate executor to determine the value of any real property in an estate by its use for farmland, woodland, or scenic open space.