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NY A05395

Bill

Official Source

Status

Introduced

2/25/2013

Primary Sponsor

Brian Kolb

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends Tax Law Section 951 to increase the unified credit against estate tax by raising the applicable exclusion amount from one million dollars to two million dollars
  • Changes the reference point for Internal Revenue Code provisions from July 22, 1998 to the current code for estate tax calculations
  • Modifies date references in IRC provisions from December 31, 1976 and January 1, 1977 to June 30, 1978 and July 1, 1978
  • Takes effect on January 1 of the year following enactment

Legislative Description

Raises threshold for estate tax from one million to two million dollars under applicable internal revenue code provisions.

Last Action

held for consideration in ways and means

6/17/2014

Committee Referrals

Ways and Means2/25/2013

Full Bill Text

No bill text available