Family Business Legacy Act of 2025

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2918 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2918 To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 14, 2025 Mr. Steube (for himself and Mr. McCormick) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to exclude from the value of taxable estates bequests to certain exempt organizations. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Family Business Legacy Act of 2025''. SEC. 2. EXCLUSION OF BEQUESTS TO CERTAIN EXEMPT ORGANIZATIONS FROM VALUE OF TAXABLE ESTATE. (a) In General.--Part IV of subchapter A of chapter 11 of the Internal Revenue Code of 1986 is amended by adding at the end the following new sectio…