Search Results: keywords:"grantor trusts"

  • S. 3988 — To amend the Internal Revenue Code of 1986 to modify rules for grantor trusts.
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    Status:Introduced in Senate
    Words:1,851

    The proposed bill, known as the Getting Rid of Abusive Trust Schemes Act (GRATS Act), seeks to amend the Internal Revenue Code to change rules regarding grantor trusts. It introduces a requirement for grantor retained annuity trusts to have a minimum term of 15 years and...

    Simple Explanation

    The Getting Rid of Abusive Trust Schemes Act (GRATS Act) wants to change the rules about special types of money-saving trust accounts so they are harder to use in tricky ways to pay less taxes. It suggests that these trusts should last a long time, like 15 years, and that when people pay certain taxes for the trust, it might count as giving a gift, which could mean paying more taxes.

  • S. 4824 — To make housing more affordable, and for other purposes.
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    Status:Introduced in Senate
    Words:30,636

    The "American Housing and Economic Mobility Act of 2024" aims to make housing more affordable across the United States. It proposes providing grants to local entities to innovate in housing development, invest in affordable housing infrastructure, and support first-time homebuyers. The bill...

    Simple Explanation

    The bill wants to help people buy homes by providing money to build more affordable houses and fixing some old problems with buying them. It also suggests changes to tax rules to make them fairer, but everyone needs to be careful with the money so it's not wasted.