Allows an additional estate tax exclusion of $7 million.

Summary

Digest: The Act sets the estate tax exclusion amount at $7 million and imposes the tax at a flat rate of seven percent. (Flesch Readability Score: 61.4). Allows an additional estate tax exclusion of $7 million. Imposes tax at a flat rate of seven percent. Applies to estates of decedents who die on or after January 1, 2026. Takes effect on the 91st day following adjournment sine die.