HOUSE BILL 359

Sponsored By:

Delegate Hixson

Entitled:

Inheritance Tax - Corrective

Synopsis:

Clarifying and correcting inheritance tax law provisions made obsolete by the exemption from the tax for a decedent's lineal relatives and siblings and the repeal of the lineal inheritance tax rate; clarifying the tax's applicability under specified circumstances when property passes to spouses as tenants by the entireties or an application to prepay the tax on a subsequent interest is filed; repealing an elective inheritance tax exemption for farmland passing to lineal relatives of a decedent; etc.

History by Legislative Date

House Action

1/31

First Reading Ways and Means

2/7

Hearing 2/22 at 11:00 a.m.

3/5

Favorable Report by Ways and Means

3/6

Favorable Report Adopted

Second Reading Passed

3/9

Third Reading Passed (137-0)

3/28

Returned Passed

5/17

Governor vetoed - Cross-filed bill was signed

Senate Action

3/12

First Reading Budget and Taxation

3/30

Favorable Report by Budget and Taxation

Favorable Report Adopted

Second Reading Passed

3/31

Third Reading Passed (47-0)

Bill indexed under the following Subjects:

CORRECTIVE LEGISLATION

ESTATES AND TRUSTS

EXEMPTIONS

FARMLAND

INHERITANCE TAX

INTEREST

PENALTIES

Bill affects the following Statutes:

Tax - General

( 7-209 , 7-210 , 7-211 , 7-221 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments: None offered

Roll Call Votes (Legislative dates are shown):

House

March 9, 2001: Third Reading Passed (137-0)

Senate

March 31, 2001: Third Reading Passed (47-0)