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IN SB0371
Bill
AI Summary
Senate Enrolled Act No. 371 - Summary
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Transfers inheritance tax administration duties from probate courts to the Department of State Revenue effective April 1, 2016, including tax determination, appraisal, and collection responsibilities for resident decedents.
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Establishes separate procedures for inheritance tax returns filed before April 1, 2016 (handled by probate courts) and after March 31, 2016 (handled by the Department of State Revenue), with different filing locations and authority structures.
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Modifies property tax deduction eligibility for trusts by allowing individuals with beneficial interests or right-to-occupy rights under qualified personal residence trusts to qualify for deductions without being considered property owners.
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Adjusts inheritance tax penalties, filing deadlines, extension procedures, and appeal processes to align with the shift in administrative authority from county/court systems to state revenue department.
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Includes conforming amendments to probate, cemetery, cremation, and final disposition statutes regarding authority to make funeral arrangements and body disposition decisions, effective July 1, 2016.
Legislative Description
Probate matters. Provides that an individual otherwise qualified for certain property tax deductions for property that the individual occupies as a beneficiary of the trust that owns the property is not required to be considered the owner of the property under the rules of construction for the property tax law for the trust to receive the property tax deduction. Transfers certain inheritance tax duties from the probate court, county assessor, and county treasurer to the department of state revenue with respect to inheritance tax returns filed after March 31, 2016. Revises the inheritance tax allocation statute so that the current
Last Action
Public Law 190
3/24/2016