House
File
47
-
Introduced
HOUSE
FILE
47
BY
WINDSCHITL
A
BILL
FOR
An
Act
repealing
the
state
inheritance
tax
and
the
state
1
qualified
use
inheritance
tax.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
1097YH
(2)
84
tw/sc
H.F.
47
Section
1.
NEW
SECTION
.
450.98
Tax
repealed.
1
This
chapter
shall
not
apply,
effective
July
1,
2011,
to
2
property
of
estates
of
decedents
dying
on
or
after
July
1,
3
2011.
The
inheritance
tax
shall
not
be
imposed
under
this
4
chapter
in
the
event
the
decedent
dies
on
or
after
July
1,
5
2011,
and
to
this
extent
this
chapter
is
repealed.
6
Sec.
2.
NEW
SECTION
.
450B.8
Tax
repealed.
7
This
chapter
shall
not
apply,
effective
July
1,
2011,
to
8
property
of
estates
of
decedents
dying
on
or
after
July
1,
9
2011.
The
inheritance
tax
shall
not
be
imposed
under
this
10
chapter
in
the
event
the
decedent
dies
on
or
after
July
1,
11
2011,
and
to
this
extent
this
chapter
is
repealed.
12
Sec.
3.
CODE
EDITOR
DIRECTIVE.
The
Code
editor
is
directed
13
to
remove
chapters
450
and
450B
from
the
Code
and
correct
14
appropriate
references
to
chapters
450
and
450B
and
appropriate
15
references
to
the
inheritance
tax
and
qualified
use
inheritance
16
tax
effective
July
1,
2021.
17
EXPLANATION
18
This
bill
repeals
the
state
inheritance
tax
and
the
state
19
qualified
use
inheritance
tax
effective
July
1,
2011,
for
20
property
of
estates
of
decedents
dying
on
or
after
July
1,
21
2011.
Inheritance
tax
will
not
be
imposed
on
any
property
in
22
the
event
of
the
death
of
an
individual
on
or
after
July
1,
23
2011.
24
-1-
LSB
1097YH
(2)
84
tw/sc
1/
1