Bill Text: IA SF2222 | 2013-2014 | 85th General Assembly | Introduced
Bill Title: A bill for an act relating to the repeal of the state inheritance tax and the state qualified use inheritance tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2014-03-11 - Fiscal note. SCS. [SF2222 Detail]
Download: Iowa-2013-SF2222-Introduced.html
Senate
File
2222
-
Introduced
SENATE
FILE
2222
BY
ANDERSON
A
BILL
FOR
An
Act
relating
to
the
repeal
of
the
state
inheritance
tax
and
1
the
state
qualified
use
inheritance
tax.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
5938XS
(2)
85
mm/sc
S.F.
2222
Section
1.
NEW
SECTION
.
450.98
Tax
repealed.
1
This
chapter
shall
not
apply,
effective
July
1,
2014,
to
2
property
of
estates
of
decedents
dying
on
or
after
July
1,
3
2014.
The
inheritance
tax
shall
not
be
imposed
under
this
4
chapter
in
the
event
the
decedent
dies
on
or
after
July
1,
5
2014,
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repealed.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repealed.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,
2014,
to
8
property
of
estates
of
decedents
dying
on
or
after
July
1,
9
2014.
The
inheritance
tax
shall
not
be
imposed
under
this
10
chapter
in
the
event
the
decedent
dies
on
or
after
July
1,
11
2014,
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repealed.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,
2024.
17
EXPLANATION
18
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
19
the
explanation’s
substance
by
the
members
of
the
general
assembly.
20
This
bill
repeals
the
state
inheritance
tax
and
the
state
21
qualified
use
inheritance
tax
effective
July
1,
2014,
for
22
property
of
estates
of
decedents
dying
on
or
after
July
1,
23
2014.
Inheritance
tax
will
not
be
imposed
on
any
property
in
24
the
event
of
the
death
of
an
individual
on
or
after
July
1,
25
2014.
26
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85
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