Allows an exclusion from a taxable estate for the value of the interest in a family-owned business.

Summary

Digest: The Act makes an interest in a family-owned business not taxed by the estate tax. (Flesch Readability Score: 61.8). Allows an exclusion from a taxable estate for the value of the interest in a family-owned business. Applies to estates of decedents who die on or after January 1, 2026. Takes effect on the 91st day following adjournment sine die.