HR 6329 · 115th Congress · Taxation

Family Business Legacy Act of 2018

Introduced 2018-07-10· Sponsored by Rep. Noem, Kristi L. [R-SD-At Large]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2018-07-10)

Plain Language Summary

[AI summary unavailable — showing source text] Family Business Legacy Act of 2018 This bill amends the Internal Revenue Code, with respect to the estate tax, to allow the value of the taxable estate to be determined by deducting from the value of the gross estate the amount of all bequests, devises, or transfers to or for the use of certain tax-exempt organizations. The deduction allowed by this bill for any transfer may not exceed the value of the transferred property required to be included in the gross estate.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Rep. Smith, Jason [R-MO-8]MO