SENATE BILL 667

Sponsored By:

Senator Ruben

Entitled:

Inheritance Tax - Nephews and Nieces

Synopsis:

Reducing the inheritance tax rate for property passing to a nephew or niece of a decedent who died without heirs entitled to the inheritance tax exemption for family members, from 10% to 6% for decedents dying between July 1, 2001, and July 1, 2002, and from 10% to 5% for decedents dying between July 1, 2002, and July 1, 2003; and exempting property passing to a nephew or niece under those circumstances for decedents dying on or after July 1, 2003.

History by Legislative Date

Senate Action

2/2

First Reading Budget and Taxation

2/14

Hearing 3/14 at 1:30 p.m.

3/22

Unfavorable Report by Budget and Taxation

House Action

No Action

Bill indexed under the following Subjects:

EXEMPTIONS

INHERITANCE TAX

Bill affects the following Statutes:

Tax - General

( 7-203 , 7-204 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered