Text: S03011                            Text: S03013
Text: S03000 - S03099                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 3012

Amendment Text

PAG LIN
  1  1    Amend Senate File 35 as follows:
  1  2    #1.  Page 1, line 4, by inserting before the word
  1  3 "parents," the following:  "except for the share of
  1  4 the estate passing to residents of the state who are".
  1  5    #2.  Page 1, by striking lines 13 through 25 and
  1  6 inserting the following:
  1  7    "Sec.    .  Section 450.9, Code 1997, is amended to
  1  8 read as follows:
  1  9    450.9  INDIVIDUAL EXEMPTIONS.
  1 10    In computing the tax on the net estate passing to
  1 11 the surviving spouse, heirs or beneficiaries of the
  1 12 deceased the following exemptions shall be allowed:
  1 13    1.  Surviving spouse, and residents of the state
  1 14 who are parents, grandparents, great-grandparents, and
  1 15 other lineal ascendants, children including legally
  1 16 adopted children and biological children entitled to
  1 17 inherit under the laws of this state, stepchildren,
  1 18 and grandchildren, great-grandchildren, and other
  1 19 lineal descendants, the entire amount of property,
  1 20 interest in property, and income.
  1 21    2.  Each nonresident son and daughter, including
  1 22 legally adopted sons and daughters, or biological sons
  1 23 and daughters entitled to inherit under the law of
  1 24 this state, fifty thousand dollars.
  1 25    3.  Father Nonresident father or mother, fifteen
  1 26 thousand dollars.
  1 27    4.  Any other nonresident lineal descendant of the
  1 28 deceased, fifteen thousand dollars.
  1 29    Sec.    .  Section 450.10, subsection 1, unnumbered
  1 30 paragraph 1, Code 1997, is amended to read as follows:
  1 31    When the property, interest, or income passes to a
  1 32 nonresident of the state who is the father or mother,
  1 33 or to a nonresident of the state who is a child or
  1 34 lineal descendant of the decedent, grantor, donor, or
  1 35 vendor, including a legally adopted child or
  1 36 biological child entitled to inherit under the laws of
  1 37 this state, the tax imposed shall be on the individual
  1 38 share so passing in excess of the exemptions allowed
  1 39 as follows:"
  1 40    #3.  Page 1, line 31, by striking the following:
  1 41 "or step-children," and inserting the following:  "or
  1 42 nonresident step-children,".
  1 43    #4.  By striking page 1, line 33, through page 2,
  1 44 line 20.
  1 45    #5.  Page 2, line 24, by inserting after the word
  1 46 "and" the following:  "passing to residents of the
  1 47 state who are".
  1 48    #6.  Title page, line 1, by inserting after the
  1 49 word "to" the following:  "residents of the state who
  1 50 are".  
  2  1 
  2  2 
  2  3                               
  2  4 TOM VILSACK
  2  5 
  2  6 
  2  7                               
  2  8 
  2  9 
  2 10                               
  2 11 SF 35.702 77
  2 12 mg/sc
     

Text: S03011                            Text: S03013
Text: S03000 - S03099                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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