Bill Text: IA HF2310 | 2011-2012 | 84th General Assembly | Introduced
Bill Title: A bill for an act exempting from the inheritance tax any agricultural land passing to nieces or nephews and including an applicability provision.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-02-27 - Subcommittee, Helland, Quirk, and Sands. H.J. 338. [HF2310 Detail]
Download: Iowa-2011-HF2310-Introduced.html
House
File
2310
-
Introduced
HOUSE
FILE
2310
BY
CHAMBERS
A
BILL
FOR
An
Act
exempting
from
the
inheritance
tax
any
agricultural
land
1
passing
to
nieces
or
nephews
and
including
an
applicability
2
provision.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5543YH
(3)
84
mm/sc
H.F.
2310
Section
1.
Section
450.10,
subsection
6,
Code
Supplement
1
2011,
is
amended
to
read
as
follows:
2
6.
a.
Property,
interest
in
property,
or
income
3
passing
to
the
surviving
spouse,
and
parents,
grandparents,
4
great-grandparents,
and
other
lineal
ascendants,
children
5
including
legally
adopted
children
and
biological
children
6
entitled
to
inherit
under
the
laws
of
this
state,
stepchildren,
7
and
grandchildren,
great-grandchildren,
and
other
lineal
8
descendants,
is
not
taxable
under
this
section
.
9
b.
Agricultural
land
passing
to
a
niece
or
nephew
is
not
10
taxable
under
this
section.
For
purposes
of
this
paragraph,
11
“agricultural
land”
means
real
property
owned
by
a
person
in
12
tracts
of
ten
acres
or
more
and
not
laid
off
into
lots
of
13
less
than
ten
acres
or
divided
by
streets
and
alleys
into
14
parcels
of
less
than
ten
acres,
and
that
has
been
used
for
15
the
production
of
agricultural
commodities
during
three
out
16
of
the
past
five
years.
Such
use
of
property
includes
but
17
is
not
limited
to
the
raising,
harvesting,
handling,
drying,
18
or
storage
of
crops
used
for
feed,
food,
seed,
or
fiber;
the
19
care
or
feeding
of
livestock;
the
handling
or
transportation
20
of
crops
or
livestock;
the
storage,
treatment,
or
disposal
21
of
livestock
manure;
and
the
application
of
fertilizers,
22
soil
conditioners,
pesticides,
and
herbicides
on
crops.
23
“Agricultural
land”
includes
land
on
which
is
located
farm
24
residences
or
outbuildings
used
for
agricultural
purposes
and
25
land
on
which
is
located
facilities,
structures,
or
equipment
26
for
agricultural
purposes.
“Agricultural
land”
includes
27
land
taken
out
of
agricultural
production
for
purposes
of
28
environmental
protection
or
preservation.
29
Sec.
2.
APPLICABILITY.
This
Act
applies
to
estates
of
30
decedents
dying
on
or
after
July
1,
2012.
31
EXPLANATION
32
This
bill
exempts
agricultural
land
passing
to
a
niece
33
or
nephew
from
the
inheritance
tax.
“Agricultural
land”
is
34
defined
in
the
bill.
35
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84
mm/sc
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