H.R. 16 · 112th Congress
Sensible Estate Tax Relief Act of 2012
- Stage
- In committee
- Sponsor
- Sander Levin
- Introduced
- 2012-07-30
- Latest action
- 2012-07-30 · Introduced in House
Summary
Sensible Estate Tax Relief Act of 2012 - Extends through 2013 provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 pertaining to estates, gifts, and generation-skipping transfers.
Amends the Internal Revenue Code to: (1) allow a basic estate tax exclusion amount of $3.5 million, and (2) establish a maximum 45% estate tax rate.
Exempts the budgetary effects of this Act from the Statutory Pay-As-You-Go Act of 2010.