Bill Text: IA SF110 | 2021-2022 | 89th 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.(Formerly SSB 1026.)
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-01-25 - Subcommittee: Dawson, Goodwin, and Petersen. S.J. 153. [SF110 Detail]
Download: Iowa-2021-SF110-Introduced.html
Senate
File
110
-
Introduced
SENATE
FILE
110
BY
EDLER
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
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110
Section
1.
NEW
SECTION
.
450.98
Tax
repealed.
1
This
chapter
shall
not
apply,
effective
July
1,
2021,
to
2
property
of
estates
of
decedents
dying
on
or
after
July
1,
3
2021.
The
inheritance
tax
shall
not
be
imposed
under
this
4
chapter
if
a
decedent
dies
on
or
after
July
1,
2021,
and
to
this
5
extent
this
chapter
is
repealed.
6
Sec.
2.
NEW
SECTION
.
450.99
Future
repeal.
7
This
chapter
is
repealed
effective
July
1,
2031.
8
Sec.
3.
NEW
SECTION
.
450B.8
Tax
repealed.
9
This
chapter
shall
not
apply,
effective
July
1,
2021,
to
10
property
of
estates
of
decedents
dying
on
or
after
July
1,
11
2021.
The
inheritance
tax
shall
not
be
imposed
under
this
12
chapter
if
a
decedent
dies
on
or
after
July
1,
2021,
and
to
this
13
extent
this
chapter
is
repealed.
14
Sec.
4.
NEW
SECTION
.
450B.9
Future
repeal.
15
This
chapter
is
repealed
effective
July
1,
2031.
16
Sec.
5.
CODE
EDITOR
DIRECTIVE.
The
Code
editor
is
directed
17
to
correct
internal
references
and
other
appropriate
references
18
in
the
Code,
and
in
any
enacted
Iowa
Acts
as
necessary,
to
19
chapters
450
and
450B,
and
to
the
inheritance
tax
and
qualified
20
use
inheritance
tax,
effective
July
1,
2031.
21
EXPLANATION
22
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
23
the
explanation’s
substance
by
the
members
of
the
general
assembly.
24
This
bill
repeals
the
state
inheritance
tax
and
the
state
25
qualified
use
inheritance
tax
effective
July
1,
2021,
for
26
property
of
estates
of
decedents
dying
on
or
after
July
1,
27
2021.
Inheritance
tax
will
not
be
imposed
on
any
property
in
28
the
event
of
the
death
of
an
individual
on
or
after
July
1,
29
2021.
30
The
bill
repeals
Code
chapters
450
(inheritance
tax)
and
31
450B
(qualified
use
inheritance
tax)
effective
July
1,
2031,
32
and
directs
the
Code
editor
to
correct
references
in
the
Code
33
and
the
Iowa
Acts
to
those
Code
chapters
and
to
the
inheritance
34
tax
and
qualified
use
inheritance
tax,
effective
July
1,
2031.
35
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