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House Bill 3886
115th Congress(2017-2018)
To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate and gift tax and to simplify the estate and gift tax rates.
Introduced
Introduced
Introduced in House on Sep 28, 2017
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Introduced in House 
Sep 28, 2017
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Introduced in House(Sep 28, 2017)
Sep 28, 2017
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 3886 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 3886


To amend the Internal Revenue Code of 1986 to increase the unified credit against the estate and gift tax and to simplify the estate and gift tax rates.

IN THE HOUSE OF REPRESENTATIVES

September 28, 2017

Mr. Austin Scott of Georgia 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 increase the unified credit against the estate and gift tax and to simplify the estate and gift tax rates.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Estate and gift tax reforms.

(a) Increase in unified credit.—

(1) IN GENERAL.—Section 2010(c)(3)(A) of the Internal Revenue Code of 1986 is amended by striking “$5,000,000” and inserting “$50,000,000”.

(2) INFLATION ADJUSTMENT.—Section 2010(c)(3)(B) of such Code is amended—

(A) by striking “2011” in the matter preceding clause (i) and inserting “2017”; and

(B) by striking “2010” in clause (ii) and inserting “2016”.

(b) Simplification of rates.—Section 2001(c) of such Code is amended to read as follows:

“(c) Tentative tax.—The tentative tax computed under this subsection is 20 percent of the amount with respect to which such tentative tax is to be computed.”.

(c) Effective date.—The amendments made by this section shall apply to decedents dying, and gifts made, after the date of the enactment of this section.