To provide estate, gift, and generation-skipping transfer tax relief.
Sensible Estate Tax Relief Act of 2012 - Extends through 2013 provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 pertaining to estates, gifts, and generation-skipping transfers.
Amends the Internal Revenue Code to: (1) allow a basic estate tax exclusion amount of $3.5 million, and (2) establish a maximum 45% estate tax rate.
Exempts the budgetary effects of this Act from the Statutory Pay-As-You-Go Act of 2010.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 457.
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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