House File 598 - Introduced



                                       HOUSE FILE       
                                       BY  WINDSCHITL


    Passed House, Date               Passed Senate,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to the repeal of the state inheritance tax and
  2    state qualified use inheritance tax.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2324YH 83
  5 mg/sc/8

PAG LIN



  1  1    Section 1.  NEW SECTION.  450.98  TAX REPEALED.
  1  2    This chapter shall not apply, effective July 1, 2009, to
  1  3 property of estates of decedents dying on or after July 1,
  1  4 2009.  The inheritance tax shall not be imposed under this
  1  5 chapter in the event the decedent dies on or after July 1,
  1  6 2009, and to this extent this chapter is repealed.
  1  7    Sec. 2.  NEW SECTION.  450B.8  TAX REPEALED.
  1  8    This chapter shall not apply, effective July 1, 2009, to
  1  9 property of estates of decedents dying on or after July 1,
  1 10 2009.  The inheritance tax shall not be imposed under this
  1 11 chapter in the event the decedent dies on or after July 1,
  1 12 2009, and to this extent this chapter is repealed.
  1 13    Sec. 3.  CODE EDITOR DIRECTIVE.  The Code editor is
  1 14 directed to remove chapters 450 and 450B from the Code and
  1 15 correct appropriate references to chapters 450 and 450B and
  1 16 appropriate references to the inheritance tax and qualified
  1 17 use inheritance tax effective July 1, 2019.
  1 18                           EXPLANATION
  1 19    This bill repeals the state inheritance tax and the state
  1 20 qualified use inheritance tax effective July 1, 2009, for
  1 21 property of estates of decedents dying on or after July 1,
  1 22 2009.  Inheritance tax will not be imposed on any property in
  1 23 the event of the death of an individual on or after July 1,
  1 24 2009.
  1 25 LSB 2324YH 83
  1 26 mg/sc/8