Text: S05693                            Text: S05695
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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Senate Amendment 5694

Amendment Text

PAG LIN
  1  1    Amend Senate File 2463 as follows:
  1  2    #1.  Page 3, by striking lines 7 through 29 and
  1  3 inserting the following:
  1  4    "Sec. 100.  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, and each child and
  1  9 grandchild, the tax is a charge against and a lien
  1 10 upon the estate subject to tax under this chapter, and
  1 11 all property of the estate or owned by the decedent
  1 12 from the death of the decedent until paid, subject to
  1 13 the following limitation:
  1 14    Sec. 200.  Section 450.9, subsection 1, Code 1995,
  1 15 is amended to read as follows:
  1 16    1.  Surviving spouse, father or mother, child or
  1 17 grandchild, the entire amount of property, interest in
  1 18 property, and income.
  1 19    Sec. 300.  Section 450.9, subsections 2 and 3, Code
  1 20 1995, are amended by striking the subsections.
  1 21    Sec. 400.  Section 450.10, subsection 1, unnumbered
  1 22 paragraph 1, Code 1995, is amended to read as follows:
  1 23    When the property, interest, or income passes to
  1 24 the father or mother, or to a child or a lineal
  1 25 descendant of the decedent, grantor, donor, or vendor,
  1 26 including a legally adopted child or biological child
  1 27 entitled to inherit under the laws of this state not
  1 28 included in subsection 7, the tax imposed shall be on
  1 29 the individual share so passing in excess of the
  1 30 exemptions allowed as follows:
  1 31    Sec. 500.  Section 450.10, subsection 2, unnumbered
  1 32 paragraph 1, Code 1995, is amended to read as follows:
  1 33    When the property or any interest therein in
  1 34 property, or income therefrom from property taxable
  1 35 under the provisions of this chapter passes to the
  1 36 brother or sister, son-in-law, or daughter-in-law, or
  1 37 step-children, the rate of tax imposed on the
  1 38 individual share so passing shall be as follows:
  1 39    Sec. 600.  Section 450.10, subsection 7, Code 1995,
  1 40 is amended to read as follows:
  1 41    7.  Property, interest in property, or income
  1 42 passing to the surviving spouse, father or mother,
  1 43 child or grandchild, is not taxable under this
  1 44 section."
  1 45    #2.  Page 13, by inserting after line 18 the
  1 46 following:
  1 47    "Sec.    .  Sections 100 through 600 of this Act
  1 48 apply to estates of decedents dying on or after July
  1 49 1, 1996."
  1 50    #3.  By renumbering as necessary.  
  2  1 
  2  2 
  2  3                              
  2  4 WAYNE BENNETT
  2  5 SF 2463.501 76
  2  6 jls/jw
     

Text: S05693                            Text: S05695
Text: S05600 - S05699                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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