Family Business Legacy Act of 2025
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 2
- Latest action
- Apr 14, 2025
What it does
The Family Business Legacy Act of 2025 would amend the Internal Revenue Code to allow a deduction from the taxable estate for bequests, devises, or transfers to certain tax-exempt organizations described in sections 501(c)(4), (5), or (6), such as civic leagues, labor organizations, and business leagues. The bill affects estates of individuals who die or make transfers after December 31, 2025, reducing estate tax liability by excluding the value of such charitable bequests from the taxable estate, subject to limitations and rules regarding powers of appointment, death taxes paid from the bequest, and disallowance in cases of split interests that do not meet qualified interest requirements.…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.