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Text: S03345                            Text: S03347
Text: S03300 - S03399                   Text: S Index
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Senate Amendment 3346

Amendment Text

PAG LIN
  1  1    Amend Senate File 466 as follows:
  1  2    #1.  Page 23, by inserting after line 29 the
  1  3 following:  
  1  4                      "DIVISION ___
  1  5                     INTERITANCE TAX
  1  6    Sec.    .  Section 450.2, Code 1995, is amended by
  1  7 adding the following new unnumbered paragraph:
  1  8    NEW UNNUMBERED PARAGRAPH.  Property passing from
  1  9 estates of decedents dying on or after July 1, 1999,
  1 10 is not subject to tax under this chapter.  This
  1 11 chapter is repealed July 1, 1999, for property of
  1 12 estates of decedents dying on or after July 1, 1999.
  1 13    Sec.    .  Section 450.10, Code 1995, is amended by
  1 14 adding the following new subsection:
  1 15    NEW SUBSECTION.  8.  For property, interest in
  1 16 property, or income from property passing from estates
  1 17 of decedents dying during the following fiscal years
  1 18 the tax rates under subsections 1 through 6 shall be a
  1 19 percentage of those specified as follows:
  1 20    a.  For the fiscal year beginning July 1, 1995,
  1 21 eighty percent.
  1 22    b.  For the fiscal year beginning July 1, 1996,
  1 23 sixty percent.
  1 24    c.  For the fiscal year beginning July 1, 1997,
  1 25 forty percent.
  1 26    d.  For the fiscal year beginning July 1, 1998,
  1 27 twenty percent.
  1 28    e.  For fiscal years beginning on or after July 1,
  1 29 1999, zero percent.
  1 30    Sec.    .  This division of this Act applies to
  1 31 estates of decedents dying on or after July 1, 1995."
  1 32    #2.  Title page, line 1, by inserting after the
  1 33 word "tax" the following:  "and inheritance tax".  
  1 34 
  1 35 
  1 36                              
  1 37 BRAD BANKS
  1 38 MAGGIE TINSMAN
  1 39 STEWART IVERSON, JR.
  1 40 MARY LOU FREEMAN
  1 41 SF 466.501 76
  1 42 mg/jw
     
Text: S03345                            Text: S03347
Text: S03300 - S03399                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index
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