GRATS Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4287 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4287 To amend the Internal Revenue Code of 1986 to modify rules for grantor trusts. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 14, 2026 Mr. Wyden (for himself and Mr. King) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify rules for grantor trusts. 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 ``Getting Rid of Abusive Trust Schemes Act'' or the ``GRATS Act''. SEC. 2. REQUIRED MINIMUM 15-YEAR TERM, ETC., FOR GRANTOR RETAINED ANNUITY TRUSTS. (a) In General.--Subsection (b) of section 2702 of the Internal Revenue Code of 1986 is amended-- (1) by redesignating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), respectively, and by moving such subparagraphs (a…