Indiana Senate Bill 57 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on January 4 2012 - 25% progression, died in committee
Action: 2012-01-04 - Senator Smith removed as coauthor
Pending: Senate Tax and Fiscal Policy Committee
Text: Latest bill text (Introduced) [HTML]

Phases out the inheritance tax beginning July 1, 2013, by giving an increasing credit against the inheritance tax due. Provides that the inheritance tax does not apply to the transfer of property interests by a decedent whose death occurs after June 30, 2018. Phases out payments of the inheritance tax replacement amount to counties over a period between 2013 and 2018. Provides that the estate tax and generation skipping transfer tax do not apply after June 30, 2018. Makes technical corrections.

Inheritance tax and estate tax.

Sen. James Banks [R]	Sen. Susan Glick [R]	Sen. Dennis Kruse [R]	Sen. Scott Schneider [R]
Sen. Greg Walker [R]	Sen. Carlin Yoder [R]

Date	Chamber	Action
2012-01-04		Senator Smith removed as coauthor
2012-01-04		Senator Glick added as coauthor
2012-01-04		First reading: referred to Committee on Tax and Fiscal Policy
2012-01-04		Coauthored by Senators Kruse, Walker and Smith
2012-01-04		Authored by Senators Banks, Yoder and Schneider

Type	Source
Summary	http://www.in.gov/apps/lsa/session/billwatch/billinfo?year=2012&session=1&request=getBill&doctype=SB&docno=0057
Text	http://www.in.gov/legislative/bills/2012/IN/IN0057.1.html