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.

Statutes affected:
Introduced: 118.010