H.R. 5638 – Permanent Estate Tax Relief Act of 2006

COMMITTEE ACTION:   REPORTED BY A VOICE VOTE, on Wednesday June 21, 2006. 
FLOOR ACTION:

MANAGERS: HASTINGS(WA)/SLAUGHTER

109th Congress
2nd Session

H.RES. 885

[Report No. 109- 517]

 

 

H.R. 5638 – PERMANENT ESTATE TAX RELIEF ACT OF 2006

1. Closed rule.

2. Provides one hour of debate in the House equally divided and controlled by the chairman and ranking minority member of the Committee on Ways and Means.

3. Waives all points of order against consideration of the bill.

4. Provides that the amendment printed in the Rules Committee report accompanying the resolution shall be considered as adopted.

5. Provides one motion to recommit with or without instructions.

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RESOLUTION

Resolved, That upon the adoption of this resolution it shall be in order without intervention of any point of order to consider in the House the bill (H.R. 5638) to amend the Internal Revenue Code of 1986 to increase the unified credit against the estate tax to an exclusion equivalent of $5,000,000 and to repeal the sunset provision for the estate and generation-skipping taxes, and for other purposes. The bill shall be considered as read. The amendment printed in the report of the Committee on Rules accompanying this resolution shall be considered as adopted. The previous question shall be considered as ordered on the bill, as amended, to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chairman and ranking minority member of the Committee on Ways and Means; and (2) one motion to recommit with or without instructions.

SUMMARY OF AMENDMENTS TO BE MADE IN ORDER
(summaries derived from information provided by sponsors) 

1. Thomas (CA): 
Manager’s Amendment. Makes a technical change to H.R. 5638 by adding to Section 3, paragraph (b) (relating to conforming amendments) an additional conforming amendment to clarify the portability rules relating to the generation skipping transfer tax. Also indexes the $5 million exemption amount to reflect inflation.

 

 

 

TEXT OF THE AMENDMENTS

 

1. Thomas (CA)