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Provide for reconciliation pursuant to title II of H. Con. Res. 14 › Section 70106

Extension and Enhancement of Increased Estate and Gift Tax Exemption Amounts

Section 70106 · Sec. 70106 ·

What this chapter is about

This part raises a base figure in the estate and gift tax from $5 million to $15 million. It moves the years the figure is measured from. It also strikes one subparagraph. The changes reach deaths and gifts after December 31, 2025.

2 proposals indexed from this chapter.

The base exemption figure rises to $15,000,000

The document says “is amended”Who acts: CongressHow: statuteSec. 70106 in the PDF
What the document says

“Section 2010(c)(3) is amended-- (1) in subparagraph (A) by striking "$5,000,000" and inserting "$15,000,000",”

To provide for reconciliation pursuant to title II of H. Con. Res. 14, Sec. 70106

The section strikes $5,000,000 in subparagraph (A) of section 2010(c)(3) of the Internal Revenue Code of 1986 and inserts $15,000,000, strikes 2011 and inserts 2026 in the matter preceding clause (i) of subparagraph (B), strikes calendar year 2010 and inserts calendar year 2025 in clause (ii) of that subparagraph, and strikes subparagraph (C).

What the document actually says

“Section 2010(c)(3) is amended-- (1) in subparagraph (A) by striking "$5,000,000" and inserting "$15,000,000",”

To provide for reconciliation pursuant to title II of H. Con. Res. 14, Sec. 70106
That sentence, in plain words

The figure $5 million is taken out. The figure $15 million is put in.

What this is about

Two base years also move forward. One goes from 2011 to 2026. One goes from 2010 to 2025. A third subparagraph is struck out.

No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.

The changes reach deaths and gifts after December 31, 2025

The document says “shall apply”Who acts: Secretary of the TreasuryHow: statuteSec. 70106 in the PDF
What the document says

“The amendments made by this section shall apply to estates of decedents dying and gifts made after December 31, 2025.”

To provide for reconciliation pursuant to title II of H. Con. Res. 14, Sec. 70106

The section applies its amendments to the estates of people dying after December 31, 2025 and to gifts made after that date.

What the document actually says

“The amendments made by this section shall apply to estates of decedents dying and gifts made after December 31, 2025.”

To provide for reconciliation pursuant to title II of H. Con. Res. 14, Sec. 70106
That sentence, in plain words

The changes reach estates where the death comes after December 31, 2025. They also reach gifts made after that date.

What this is about

Earlier deaths and gifts are not touched. The old rules still hold for them. The date is fixed in the law.

No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.

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What This Page Covers, and What It Leaves Out

Both things the section does: raise the base exemption figure and move its base years while striking a subparagraph, and fix the effective date.

Nothing in the section is left out. It has two subsections and each is recorded.

The section works by amending section 2010(c)(3) of the Internal Revenue Code of 1986, which is not indexed here, so how the exemption is otherwise worked out cannot be checked against anything on this site.