Senate Bill Proposes California Estate
According to a news release from the office of Senator Scott Wiener (D-San Francisco), the proposed legislation is modeled on the federal estate tax but would lower the exemption rate to $3.5 million, which is lower than the federal estate tax exemption. Senator Wiener introduced Senate Bill 378 at the end of March. If the bill is passed, it would result in a special fund designed to improve socioeconomic equality in the state.
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