Text: S05441                            Text: S05443
Text: S05400 - S05499                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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Senate Amendment 5442

Amendment Text

PAG LIN
  1  1    Amend Senate File 2449 as follows:
  1  2    #1.  Page 2, by striking lines 20 through 30 and
  1  3 inserting the following:
  1  4    "Sec.    .  Section 450.7, subsection 1, unnumbered
  1  5 paragraph 1, Code Supplement 1995, is amended to read
  1  6 as follows:
  1  7    Except for the share of the estate passing to the
  1  8 surviving spouse, father or mother, each son and
  1  9 daughter, including legally adopted sons and daughters
  1 10 or biological sons and daughters, stepchildren, and
  1 11 grandchildren, the tax is a charge against and a lien
  1 12 upon the estate subject to tax under this chapter, and
  1 13 all property of the estate or owned by the decedent
  1 14 from the death of the decedent until paid, subject to
  1 15 the following limitation:
  1 16    Sec.    .  Section 450.9, subsection 1, Code 1995,
  1 17 is amended to read as follows:
  1 18    1.  Surviving spouse, father or mother, son or
  1 19 daughter, including legally adopted sons and daughters
  1 20 or biological sons and daughters, stepchildren, or
  1 21 grandchild, the entire amount of property, interest in
  1 22 property, and income.
  1 23    Sec.    .  Section 450.9, subsections 2 and 3, Code
  1 24 1995, are amended by striking the subsections.
  1 25    Sec.    .  Section 450.10, subsection 1, unnumbered
  1 26 paragraph 1, Code 1995, is amended to read as follows:
  1 27    When the property, interest, or income passes to
  1 28 the father or mother, or to a child or a lineal
  1 29 descendant of the decedent, grantor, donor, or vendor,
  1 30 including a legally adopted child or biological child
  1 31 entitled to inherit under the laws of this state not
  1 32 included in subsection 7, the tax imposed shall be on
  1 33 the individual share so passing in excess of the
  1 34 exemptions allowed as follows:
  1 35    Sec.    .  Section 450.10, subsection 2, unnumbered
  1 36 paragraph 1, Code 1995, is amended to read as follows:
  1 37    When the property or any interest therein in
  1 38 property, or income therefrom from property taxable
  1 39 under the provisions of this chapter passes to the
  1 40 brother or sister, son-in-law, or daughter-in-law, or
  1 41 step-children, the rate of tax imposed on the
  1 42 individual share so passing shall be as follows:
  1 43    Sec.    .  Section 450.10, subsection 7, Code 1995,
  1 44 is amended to read as follows:
  1 45    7.  Property, interest in property, or income
  1 46 passing to the surviving spouse, father or mother, son
  1 47 or daughter, including legally adopted sons and
  1 48 daughters or biological sons and daughters, stepchild,
  1 49 or grandchild, is not taxable under this section." 
  1 50 
  2  1 
  2  2                               
  2  3 ANDY MCKEAN
  2  4 RICHARD F. DRAKE
  2  5 MAGGIE TINSMAN
  2  6 O. GENE MADDOX
  2  7 LYLE E. ZIEMAN
  2  8 WAYNE D. BENNETT
  2  9 SHELDON RITTMER
  2 10 H. KAY HEDGE
  2 11 JOANN DOUGLAS
  2 12 JOHN W. JENSEN
  2 13 NANCY BOETTGER
  2 14 STEWART IVERSON, JR.
  2 15 BRAD BANKS
  2 16 ALLEN BORLAUG
  2 17 WILMER RENSINK
  2 18 SF 2449.201 76
  2 19 mg/jj
     

Text: S05441                            Text: S05443
Text: S05400 - S05499                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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