I 

114TH CONGRESS 

2D SESSION H. R. 4996 

To amend the Internal Revenue Code of 1986 to return the estate, gift, 

and generation skipping transfer tax to 2009 levels. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 20, 2016 

Mr. LEVIN (for himself, Mr. RANGEL, Mr. BLUMENAUER, Mr. VAN HOLLEN, 

Mr. CROWLEY, Mr. PASCRELL, Mr. NEAL, Mr. HOYER, and Mr. LARSON

of Connecticut) 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 return 

the estate, gift, and generation skipping transfer tax 

to 2009 levels. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Sensible Estate Tax 

5 Act of 2016’’. 

6 SEC. 2. ESTATE AND GIFT TAX RETURNED TO 2009 LEVELS. 

7 (a) ESTATE TAX.— 


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1 (1) RATE SCHEDULE.—Subsection (c) of sec2 tion 2001 of the Internal Revenue Code of 1986 is 

3 amended to read as follows: 

4 ‘‘(c) RATE SCHEDULE.— 

‘‘If the amount with respect to 

which the tentative 

tax to be computed is: The tentative tax is: 

Not over $10,000 .......................... 18% of such amount. 

Over $10,000 but not over 

$20,000.

$1,800, plus 20 percent of the excess 

of such amount over $10,000. 

Over $20,000 but not over 

$40,000.

$3,800, plus 22% of the excess of 

such amount over $20,000. 

Over $40,000 but not over 

$60,000.

$8,200, plus 24% of the excess of 

such amount over $40,000. 

Over $60,000 but not over 

$80,000.

$13,000, plus 26% of the excess of 

such amount over $60,000. 

Over $80,000 but not over 

$100,000.

$18,200, plus 28% of the excess of 

such amount over $80,000. 

Over $100,000 but not over 

$150,000.

$23,800, plus 30% of the excess of 

such amount over $100,000. 

Over $150,000 but not over 

$250,000.

$38,800, plus 32% of the excess of 

such amount over $150,000. 

Over $250,000 but not over 

$500,000.

$70,800, plus 34% of the excess of 

such amount over $250,000. 

Over $500,000 but not over 

$750,000.

$155,800, plus 37% of the excess of 

such amount over $500,000. 

Over $750,000 but not over 

$1,000,000.

$248,300, plus 39% of the excess of 

such amount over $750,000. 

Over $1,000,000 but not over 

$1,250,000.

$345,800, plus 41% of the excess of 

such amount over $1,000,000. 

Over $1,250,000 but not over 

$1,500,000.

$448,300, plus 43% of the excess of 

such amount over $1,250,000. 

Over $1,500,000 ............................ $555,800, plus 45% of the excess of 

such amount over $1,500,000.’’. 

5 (2) EXEMPTION AMOUNT.—Paragraph (3) of 

6 section 2010(c) of such Code is amended to read as 

7 follows: 

8 ‘‘(3) BASIC EXCLUSION AMOUNT.—For pur9 poses of this subsection, the basic exclusion amount 

10 is $3,500,000.’’. 

11 (b) GIFT TAX.— 


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1 (1) LIMITATION ON BASIC EXCLUSION AMOUNT

2 FOR PURPOSES OF DETERMINING APPLICABLE

3 CREDIT AMOUNT.—Paragraph (1) of section 2505(a) 

4 of the Internal Revenue Code of 1986 is amended by 

5 inserting ‘‘(determined as if the basic exclusion 

6 amount were $1,000,000 and the deceased spousal 

7 unused exclusion amount was modified under sub8 section (d))’’ after ‘‘calendar year’’. 

9 (2) MODIFICATION OF DECEASED SPOUSAL UN10 USED EXCLUSION AMOUNT.—Section 2505 of such 

11 Code is amended by adding at the end the following: 

12 ‘‘(d) MODIFICATION OF DECEASED SPOUSAL UN13 USED EXCLUSION AMOUNT.—In the case of a surviving 

14 spouse who is the last spouse of the decedent with respect 

15 to whom an election is made under section 2010(c)(5), the 

16 deceased spousal unused exclusion amount with respect to 

17 such surviving spouse shall be determined as if such 

18 amount were the lesser of— 

19 ‘‘(1) $1,000,000, and 

20 ‘‘(2) applicable exclusion amount of the dece21 dent reduced by the amount with respect to which 

22 the tentative tax is determined under section 

23 2001(b)(1) on the estate of the decedent.’’. 


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1 (c) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to estates of decedents dying and 

3 gifts made after December 31, 2016. 

Æ 


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