SUBTITLE Q. ESTATE TAX ADJUSTMENT

(a) Paragraph (4) is amended as follows:

(1) Subparagraph (E) is amended by striking the phrase "dying after December 31, 2017" and inserting the phrase "whose death occurs after December 31, 2017, but before January 1, 2021" in its place.

(2) A new subparagraph (F) is added to read as follows:

" (F) For a decedent whose death occurs after December 31, 2020:

" (i) The maximum amount of credit for state death taxes allowed by section 2011 of the Internal Revenue Code;

" (ii) The amount of the unified credit shall be $1,545,800, increased annually, beginning with the year commencing on January 1, 2022, by the cost-of-living adjustment; and

" (iii) An estate tax return shall not be required to be filed if the decedent's gross estate does not exceed the applicable zero bracket amount.".

(b) Paragraph (14) is amended as follows:

(1) Subparagraph (B) is amended by striking the phrase "; or" and inserting a semicolon in its place.

(2) Subparagraph (C) is amended as follows:

(A) Strike the phrase "after December 31, 2017" and insert the phrase "after December 31, 2017, but before January 1, 2021" in its place.

(B) Strike the period at the end and insert the phrase "; or" in its place.

(3) A new subparagraph (D) is added to read as follows:

" (D) For a decedent whose death occurs after December 31, 2020, $4 million, increased annually, beginning with the year commencing on January 1, 2022, by the cost-of-living adjustment.".