Print
Senate File 103 - IntroducedA Bill ForAn Act 1relating to the repeal of the state inheritance tax and
2the state qualified use inheritance tax.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 450.98 Tax repealed.
2This chapter shall not apply, effective July 1, 2017, to
3property of estates of decedents dying on or after July 1,
42017. The inheritance tax shall not be imposed under this
5chapter in the event the decedent dies on or after July 1,
62017, and to this extent this chapter is repealed.
7 Sec. 2. NEW SECTION. 450B.8 Tax repealed.
8This chapter shall not apply, effective July 1, 2017, to
9property of estates of decedents dying on or after July 1,
102017. The inheritance tax shall not be imposed under this
11chapter in the event the decedent dies on or after July 1,
122017, and to this extent this chapter is repealed.
13 Sec. 3. CODE EDITOR DIRECTIVE. The Code editor is directed
14to remove chapters 450 and 450B from the Code and correct
15appropriate references to chapters 450 and 450B and appropriate
16references to the inheritance tax and qualified use inheritance
17tax effective July 1, 2027.
18EXPLANATION
19The inclusion of this explanation does not constitute agreement with
20the explanation’s substance by the members of the general assembly.
21This bill repeals the state inheritance tax and the state
22qualified use inheritance tax effective July 1, 2017, for
23property of estates of decedents dying on or after July 1,
242017. Inheritance tax will not be imposed on any property in
25the event of the death of an individual on or after July 1,
262017.
-1-mm/sc
2the state qualified use inheritance tax.
3BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
1 Section 1. NEW SECTION. 450.98 Tax repealed.
2This chapter shall not apply, effective July 1, 2017, to
3property of estates of decedents dying on or after July 1,
42017. The inheritance tax shall not be imposed under this
5chapter in the event the decedent dies on or after July 1,
62017, and to this extent this chapter is repealed.
7 Sec. 2. NEW SECTION. 450B.8 Tax repealed.
8This chapter shall not apply, effective July 1, 2017, to
9property of estates of decedents dying on or after July 1,
102017. The inheritance tax shall not be imposed under this
11chapter in the event the decedent dies on or after July 1,
122017, and to this extent this chapter is repealed.
13 Sec. 3. CODE EDITOR DIRECTIVE. The Code editor is directed
14to remove chapters 450 and 450B from the Code and correct
15appropriate references to chapters 450 and 450B and appropriate
16references to the inheritance tax and qualified use inheritance
17tax effective July 1, 2027.
18EXPLANATION
19The inclusion of this explanation does not constitute agreement with
20the explanation’s substance by the members of the general assembly.
21This bill repeals the state inheritance tax and the state
22qualified use inheritance tax effective July 1, 2017, for
23property of estates of decedents dying on or after July 1,
242017. Inheritance tax will not be imposed on any property in
25the event of the death of an individual on or after July 1,
262017.
-1-mm/sc