A bill to amend the Internal Revenue Code of 1954 to provide that the unified credit against the estate tax shall not be reduced by certain gifts made during 1976 which are includible in the gross estate of the decedent.

Amends the Internal Revenue Code to provide that the unified credit against the estate tax shall not be reduced by gifts made after September 8, 1976, which are includible in the gross estate of the decedent.

Limits application of this Act to estates of decedents dying after December 31, 1976.