SENATE BILL 663

Sponsored By:

Senator Ruben

Entitled:

Recordation and Transfer Taxes - Estate Planning Exemption

Synopsis:

Exempting from the recordation tax and State and county transfer taxes instruments of writing transferring property for estate planning purposes if the only consideration is an interest in the transferee; imposing the recordation tax and State and county transfer taxes on the transfer of an interest in estate planning entities; requiring the filing of a report of transfers of interest in estate planning entities; requiring the payment of a filing fee with certain reports; etc.

Legislative History

Senate Action

2/2

First Reading Budget and Taxation

2/21

Hearing 3/8 at 12:00 p.m.

2/26

Hearing cancelled

Hearing 3/6 at 5:00 p.m.

3/20

Referred to interim study by Budget and Taxation

House Action

No Action

Bill indexed under the following Subjects:

ASSESSMENTS AND TAXATION, DEPARTMENT OF

CIVIL ACTIONS -see also- SMALL CLAIMS

ESTATES AND TRUSTS -see also- FIDUCIARIES

EXEMPTIONS

FEES -see also- DEVELOPMENT FEES AND TAXES

RECORDATION -see also- TRANSFER TAX

REPORTS -see also- RECORDS

REVENUE AND TAXES - GENERAL

TRANSFER TAX -see also- RECORDATION

Bill affects the following Statutes:

Tax - Property

( 11-103 , 12-102.1 , 12-108 , 13-202.1 , 13-207 , 13-410 )

Documents:

Bill Text:

First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None available