Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

Referred to the House Committee on Ways and Means.

H.R.1624 through Congress

H.R.1624 keeps its number as it moves between the House and Senate.

HouseApr 13, 2005IntroducedOfficial record

Major milestones in the imported record. See all actions.

No Senate action is available in our imported record yet.

Separate related Senate measures (1)

These are different measures identified as related by Congress.gov. Their text and outcomes may differ; they are not the Senate stage of H.R.1624.

Related Senate bill: S.928 Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act

Congressional Research Service

Official summary

Version 00 · Introduced in House · Apr 13, 2005

Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005 - Amends the Internal Revenue Code to revise the estate tax exclusion for family-owned business interests. Repeals the maximum $675,000 deduction for such interests and allows heirs of qualified interests to exclude the adjusted value of such interests from the gross estate. Defines "qualified family-owned business interests" and revises ownership requirements and material participation rules applicable to family-owned business interests qualifying for the estate tax exclusion.

Provides that qualified family-owned business interests and spousal property acquired from a decedent shall be treated as transferred by gift and that the basis of such property shall be the lesser of the adjusted basis of the decedent, or the fair market value of such property at the date of the decedent's death (thus eliminating estate tax on such property).

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People & committees

Who introduced it

Rep. Thompson, Mike [D-CA-1] · D–CA

Committees

Ways and Means Committee

15 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Apr 13, 2005
Referred to the House Committee on Ways and Means.
Apr 13, 2005
Introduced in House
Apr 13, 2005
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Apr 13, 2005 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

S 928 · Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act

Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

Explore the bill from different angles

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Neutral evidence review

Objective

Analyze H.R.1624 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.1624, 109th Congress: Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/1624

Text version to examine: Introduced in House · 2005-04-13.

Official full text: https://www.congress.gov/109/bills/hr1624/BILLS-109hr1624ih.htm

Imported record last updated by the source: 2025-08-15T18:02:59Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.1624 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.1624 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.1624, 109th Congress: Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/1624

Text version to examine: Introduced in House · 2005-04-13.

Official full text: https://www.congress.gov/109/bills/hr1624/BILLS-109hr1624ih.htm

Imported record last updated by the source: 2025-08-15T18:02:59Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1624 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.1624 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.1624, 109th Congress: Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/1624

Text version to examine: Introduced in House · 2005-04-13.

Official full text: https://www.congress.gov/109/bills/hr1624/BILLS-109hr1624ih.htm

Imported record last updated by the source: 2025-08-15T18:02:59Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1624 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.1624 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.1624, 109th Congress: Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2005

Official record: https://www.congress.gov/bill/109th-congress/house-bill/1624

Text version to examine: Introduced in House · 2005-04-13.

Official full text: https://www.congress.gov/109/bills/hr1624/BILLS-109hr1624ih.htm

Imported record last updated by the source: 2025-08-15T18:02:59Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.1624 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.