STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

SENATE BILL 321	By:	Sparks

AS INTRODUCED

An Act relating to estate tax liens; amending Section 5, Chapter 436, O.S.L. 2010 (68 O.S. Supp. 2010, Section 804.1), which relates to requirements for certain order releasing lien; clarifying language; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     Section 5, Chapter 436, O.S.L. 2010 (68 O.S. Supp. 2010, Section 804.1), is amended to read as follows:
Section 804.1  For deaths occurring on or after January 1, 2010, no lien related to estate tax shall attach to any property passing through the estate of a decedent, by joint tenancy, or otherwise.  No order exempting estate tax liability shall be necessary to authorize the release of such property or for the title of real property to be marketable.  This shall not be construed as relieving an estate from lien obligations in effect for deaths occurring during any time before January 1, 2010.

SECTION 2.  This act shall become effective November 1, 2011.

53-1-789	JCR	1/14/2011 4:10:37 PM