S.Amdt. 2365

SA 2365. Mr. PAUL submitted an amendment intended to be proposed to
amendment SA 2360 proposed by Mr.

[[Page S3781]]

Thune (for Mr. Graham) to the bill H.R. 1, to provide for
reconciliation pursuant to title II of H. Con. Res. 14; which was
ordered to lie on the table; as follows:

Strike section 70106 and insert the following:

SEC. 70106. REPEAL OF ESTATE AND GENERATION-SKIPPING TRANSFER
TAXES.

(a) Estate Tax Repeal.--Subchapter C of chapter 11 of
subtitle B is amended by adding at the end the following new
section:

``SEC. 2210. TERMINATION.

``(a) In General.--Except as provided in subsection (b),
this chapter shall not apply to the estates of decedents
dying on or after the date of the enactment of this section.
``(b) Certain Distributions From Qualified Domestic
Trusts.--In applying section 2056A with respect to the
surviving spouse of a decedent dying before the date of the
enactment of this section--
``(1) section 2056A(b)(1)(A) shall not apply to
distributions made after the 10-year period beginning on such
date, and
``(2) section 2056A(b)(1)(B) shall not apply on or after
such date.''.
(b) Generation-Skipping Transfer Tax Repeal.--Subchapter G
of chapter 13 of subtitle B is amended by adding at the end
the following new section:

``SEC. 2664. TERMINATION.

``This chapter shall not apply to generation-skipping
transfers on or after the date of the enactment of this
section.''.
(c) Conforming Amendments.--
(1) The table of sections for subchapter C of chapter 11 is
amended by adding at the end the following new item:

``Sec. 2210. Termination.''.
(2) The table of sections for subchapter G of chapter 13 is
amended by adding at the end the following new item:

``Sec. 2664. Termination.''.
(d) Effective Date.--The amendments made by this section
shall apply to the estates of decedents dying, and
generation-skipping transfers, after the date of the
enactment of this Act.
______