CHAPTER NUMBER: 367
File Code: Taxes - Miscellaneous
- Sponsored By:
-
Senators Craig and
Middleton
- Entitled:
-
Inheritance Tax - Family Farms
Allowing an elective exemption from the inheritance tax for real
property that has qualified for agricultural use assessment for
property tax purposes for at least 5 years before the decedent's death
and that passes to a person to whom the 1% lineal inheritance tax rate
applies; disqualifying the property for the exemption if the property
ceases to qualify for farmland assessment for property tax purposes
within 15 years after the decedent's death; providing for payment of
the tax on disqualification; etc.
Senate Action
- 10/13
- Pre-filed
- 1/10
- First Reading Budget and Taxation
- 2/7
- Hearing 2/23 at 1:00 p.m.
- 2/14
- Hearing cancelled
- Hearing 2/23 at 12:00 p.m.
- 3/11
- Favorable with Amendments Report by Budget and Taxation
- 3/12
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/14
- Third Reading Passed (47-0)
- 4/3
- Senate Concur - House Amendment
- Third Reading Passed (44-0)
- Passed Enrolled
- 5/14
- Signed by the Governor Chapter 367
House Action
- 3/15
- First Reading Ways and Means
- 3/20
- Hearing 3/26 at 1:00 p.m.
- 4/4
- Favorable with Amendments Report by Ways and Means
- 3/29
- Favorable with Amendments Report Adopted
- Second Reading Passed with Amendments
- 3/30
- Third Reading Passed with Amendments (134-2)
- Sponsored by:
- Senator David R. Craig, District 34
- Senator Thomas McLain Middleton, District 28
- Bill indexed under the following Subjects:
- EXEMPTIONS
- FARMLAND
- FEES -see also- DEVELOPMENT FEES AND TAXES
- INHERITANCE TAX
- INTEREST
- LIENS -see also- MECHANICS' LIENS, SECURITY INTERESTS
- PENALTIES
- RECORDS -see also- RCDNGS, LAND RCDS, VITAL RCDS; CRIM BKGD.
- REGISTERS OF WILLS
- Bill affects the following Statutes:
- Tax - General
- (
7-204 ,
7-211 ,
7-216 ,
7-217 ,
7-221 ,
13-806
)
- Bill Text:
- First Reading (PDF),
Third Reading (PDF), Enrolled (PDF)
- Fiscal Note:
Available (PDF)
Amendments:
- Senate
- Number: 378293/1 (PDF) Offered on: MARCH 12, 1996 at: 11:54
Status: Adopted
- House
- Number: 495127/1 (PDF) Offered on: APRIL 4, 1996 at: 10:51
Status: Adopted