Attorney Jonathan G. Blattmachr and  Scott A. Nammacher have written an article in which they examine HR 436, a bill introduced by Representative Earl Pomeroy (D. North Dakota).  This bill  “would have significant impact on the value of interests in real estate, investment holding and possibly operating entities, for estate and gift tax purposes. This echoes proposals made during the Clinton Administration. Certain aspects of the proposed bill seem to be difficult to discern and further refinements and debate are surely going to come if it moves forward in committee. But, if enacted, it or similar bills, will likely will change the valuation of these kinds of “property,” in many cases.”