To amend the Internal Revenue Code of 1986 to provide that the dollar limitation on the estate tax deduction for family-owned business interests shall not apply to interests in a business owned by a single family.
Family Business and Family Farm Preservation Act of 1998 - Amends the Internal Revenue Code to provide that the $675,000 limitation on the estate tax deduction shall not apply to interests in a business owned by a single family. Establishes a reinvestment requirement on estates to which such limitation did not apply.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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