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2024 SESSION

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HB 1414 Estate tax; reinstates tax for persons dying on and after July 1, 2024.

Introduced by: Elizabeth B. Bennett-Parker | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Reinstatement of the estate tax. Reinstates the estate tax for persons dying on and after July 1, 2024. The bill provides that no estate tax shall be imposed on a gross estate if the majority of the assets of the estate are an interest in a closely held business or a working farm. The bill designates revenues from the estate tax to be used for early childhood care and education purposes.

FULL TEXT

• 01/17/24  House: Presented and ordered printed 24104291D  pdf | impact statement
• 02/07/24  House: Committee substitute posted to LIS only 24107085D-H1  pdf

AMENDMENTS

• House subcommittee amendments and substitutes offered
• House subcommittee amendments and substitutes adopted

HISTORY

• 01/17/24  House: Presented and ordered printed 24104291D
• 01/17/24  House: Referred to Committee on Finance
• 02/02/24  House: Assigned Finance sub: Subcommittee #3
• 02/05/24  House: Subcommittee recommends continuing to 2025 with substitute (7-Y 0-N)
• 02/07/24  House: Committee substitute posted to LIS only 24107085D-H1
• 02/07/24  House: Continued to 2025 with substitute in Finance by voice vote