HR 6724 · 96th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the unified credit against estate and gift taxes to provide that $400,000 of property shall be exempt from such taxes, and to provide an inflation adjustment of such amount.

Introduced 1980-03-06· Sponsored by Rep. Dannemeyer, William E. [R-CA-39]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1980-03-06)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the unified tax credit for both estate and gift taxes from $47,000 to $121,800, with annual inflation adjustments.…

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