H.R. 1259House112th Congress (2011-2013)In Committee

Death Tax Repeal Permanency Act of 2011

Introduced March 30, 2011

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

March 30, 2011

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HouseIntro Referral

Introduced in House

March 30, 2011

HouseIntro Referral

Referred to the House Committee on Ways and Means.

March 30, 2011

Floor Debate

13 members

What members said about H.R. 1259 on the floor

13 Republicans
Jean Schmidt
Rep. Jean SchmidtR-OH-2 · Oct 26, 2011

I thank my good friend from Missouri. You know, I often talk about kitchen table politics in this well because as Ronald Reagan said in his farewell speech, all good ideas begin at the dinner table.…

Vicky Hartzler
Rep. Vicky HartzlerR-MO-4 · Oct 26, 2011

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and include extraneous material on the topic of this Special Order. Thank…

Renee L. Ellmers
Rep. Renee L. EllmersR-NC-2 · Oct 26, 2011

Thank you so much, and thank you for leading this Special Order tonight. It's so important. You've heard from my fellow women colleagues the discussion we're having about our families, our seniors,…

Kristi L. Noem
Rep. Kristi L. NoemR-SD · Oct 26, 2011

I thank the gentlelady from Missouri for recognizing me and for facilitating this wonderful discussion that we have tonight in front of us to really talk about our seniors and to talk about the…

Martha Roby
Rep. Martha RobyR-AL-2 · Oct 26, 2011

Thank you so much for having this Special Order tonight. It's so important for us to have the opportunity to speak to America, but particularly to home in on our seniors back home. Of course,…

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Jaime Herrera Beutler
Rep. Jaime Herrera BeutlerR-WA-3 · Oct 26, 2011

I thank my colleague, and the Republican women who have joined us here tonight to talk about such an important issue and to share what we have been doing on behalf of our Nation's seniors, because I…

Shelley Moore Capito
Rep. Shelley Moore CapitoR-WV-2 · Oct 26, 2011

Thank you. I want to thank my colleague for sponsoring this Special Order. I know we're running close to being out of time, but this is such an incredibly important topic for us as daughters, as…

Virginia Foxx
Rep. Virginia FoxxR-NC-5 · Oct 26, 2011

Thank you very much. I want to thank our colleague from Missouri, Congresswoman Hartzler, for leading this important effort tonight to highlight the concern that Republican women have for the…

Kay Granger
Rep. Kay GrangerR-TX-12 · Oct 26, 2011

Thank you very much for yielding to me and thank you for the time where we get to talk about women and our seniors. Women have made great strides in the workforce and in politics-- actually, in all…

Lynn Jenkins
Rep. Lynn JenkinsR-KS-2 · Oct 26, 2011

I thank the gentlelady from Missouri for yielding, and I appreciate my fellow Republican women stepping up this evening to have an honest fact-based discussion about one of our Nation's most valued…

Diane Black
Rep. Diane BlackR-TN-6 · Oct 26, 2011

Thank you for yielding your time, my dear friend from Missouri. It's very good to be here today as Republican women and lifting up seniors. When I think about the seniors in my life, my grandmother…

Ann Marie Buerkle
Rep. Ann Marie BuerkleR-NY-25 · Oct 26, 2011

Thank you very much. Mr. Speaker, I am so proud to stand here this evening with my fellow Republican female Members of Congress, and we stand here tonight united on behalf of our seniors. I come…

Cynthia M. Lummis
Rep. Cynthia M. LummisR-WY · Oct 26, 2011

I thank the gentlelady from Missouri. Among the topics we've been discussing tonight is the effects of ObamaCare, the Affordable Care Act, on Medicare. One of the things that I believe is the most…

Bill Text

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Introduced in HouseIssued March 30, 2011

I

112th CONGRESS

1st Session

H. R. 1259

IN THE HOUSE OF REPRESENTATIVES

March 30, 2011

Mr. Brady of Texas (for himself, Mr. Ross of Arkansas, Mrs. Noem, Mr. Boren, and Mr. Nunes) 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 repeal the estate and generation-skipping transfer taxes, and for other purposes.

1.

Short title

This Act may be cited as the Death Tax Repeal Permanency Act of 2011.

2.

Repeal of estate and generation-skipping transfer taxes

(a)

Estate Tax Repeal

Subchapter C of chapter 11 of subtitle B of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

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 the Death Tax Repeal Permanency Act of 2011.

(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 the Death Tax Repeal Permanency Act of 2011

(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 of such Code is amended by adding at the end the following new section:

2664.

Termination

This chapter shall not apply to generation-skipping transfers on or after the date of the enactment of the Death Tax Repeal Permanency Act of 2011.

.

(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)

Restoration of pre-EGTRRA provisions not applicable

(1)

In general

Section 301 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 shall not apply to estates of decedents dying, and transfers made, on or after the date of the enactment of this Act.

(2)

Exception for stepped-up basis

Paragraph (1) shall not apply to the provisions of law amended by subtitle E of title V of the Economic Growth and Tax Relief Reconciliation Act of 2001 (relating to carryover basis at death; other changes taking effect with repeal).

(e)

Sunset not applicable

(1)

Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 shall not apply to title V of such Act in the case of estates of decedents dying, and transfers made, on or after the date of the enactment of this Act.

(2)

Section 304 of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 is hereby repealed.

(f)

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.

3.

Modifications of gift tax

(a)

Computation of gift tax

Subsection (a) of section 2502 of the Internal Revenue Code of 1986 is amended to read as follows:

(a)

Computation of tax

(1)

In general

The tax imposed by section 2501 for each calendar year shall be an amount equal to the excess of—

(A)

a tentative tax, computed under paragraph (2), on the aggregate sum of the taxable gifts for such calendar year and for each of the preceding calendar periods, over

(B)

a tentative tax, computed under paragraph (2), on the aggregate sum of the taxable gifts for each of the preceding calendar periods.

(2)

Rate schedule

If the amount with respect to which the tentative tax to be computed is:The tentative tax is:
Not over $10,00018% of such amount.
Over $10,000 but not over $20,000$1,800, plus 20% of the excess over $10,000.
Over $20,000 but not over $40,000$3,800, plus 22% of the excess over $20,000.
Over $40,000 but not over $60,000$8,200, plus 24% of the excess over $40,000.
Over $60,000 but not over $80,000$13,000, plus 26% of the excess over $60,000.
Over $80,000 but not over $100,000$18,200, plus 28% of the excess over $80,000.
Over $100,000 but not over $150,000$23,800, plus 30% of the excess over $100,000.
Over $150,000 but not over $250,000$38,800, plus 32% of the excess of $150,000.
Over $250,000 but not over $500,000$70,800, plus 34% of the excess over $250,000.
Over $500,000$155,800, plus 35% of the excess of $500,000.

.

(b)

Treatment of Certain Transfers in Trust

Section 2511 (relating to transfers in general) is amended by adding at the end the following new subsection:

(c)

Treatment of Certain Transfers in Trust

Notwithstanding any other provision of this section and except as provided in regulations, a transfer in trust shall be treated as a taxable gift under section 2503, unless the trust is treated as wholly owned by the donor or the donor’s spouse under subpart E of part I of subchapter J of chapter 1.

.

(c)

Lifetime gift exemption

Paragraph (1) of section 2505(a) of the Internal Revenue Code of 1986 is amended to read as follows:

(1)

the amount of the tentative tax which would be determined under the rate schedule set forth in section 2502(a)(2) if the amount with respect to which such tentative tax is to be computed were $5,000,000, reduced by

.

(d)

Conforming amendments

(1)

Section 2505(a) of such Code is amended by striking the last sentence.

(2)

The heading for section 2505 of such Code is amended by striking Unified.

(3)

The item in the table of sections for subchapter A of chapter 12 of such Code relating to section 2505 is amended to read as follows:

Sec. 2505. Credit against gift tax.

.

(e)

Effective date

The amendments made by this section shall apply to gifts made on or after the date of the enactment of this Act.

(f)

Transition rule

(1)

In general

For purposes of applying sections 1015(d), 2502, and 2505 of the Internal Revenue Code of 1986, the calendar year in which this Act is enacted shall be treated as 2 separate calendar years one of which ends on the day before the date of the enactment of this Act and the other of which begins on such date of enactment.

(2)

Application of section 2504(b)

For purposes of applying section 2504(b) of the Internal Revenue Code of 1986, the calendar year in which this Act is enacted shall be treated as one preceding calendar period.