SENATE BILL 244

Sponsored By:

Senators Miller and Hoffman

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

Senate Action

1/25

First Reading Budget and Taxation

Hearing 2/7 at 1:30 p.m.

2/5

Hearing cancelled

Hearing 2/7 at 2:00 p.m.

2/13

Favorable Report by Budget and Taxation

2/15

Favorable Report Adopted

Second Reading Passed

2/19

Third Reading Passed (46-0)

4/1

Returned Passed

5/15

Signed by the Governor Chapter 366

House Action

2/20

First Reading Ways and Means

3/14

Hearing 3/29 at 1:00 p.m.

4/2

Favorable Report by Ways and Means

3/28

Favorable Report Adopted

Second Reading Passed

3/29

Third Reading Passed (138-0)

Sponsored by:

Senator Thomas V. Mike Miller, Jr., District 27

Senator Barbara A. Hoffman, District 42

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):

Senate

February 19, 2001: Third Reading Passed (46-0)

House

March 29, 2001: Third Reading Passed (138-0)