Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sensible Estate Tax Relief Act of 2012 - Extends through 2013 provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 pertaining to estates, gifts, and generation-skipping transfers.
Amends the Internal Revenue Code to: (1) allow a basic estate tax exclusion amount of $3.5 million, and (2) establish a maximum 45% estate tax rate.
Exempts the budgetary effects of this Act from the Statutory Pay-As-You-Go Act of 2010.
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