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TX SB2064
Bill
Status
6/20/2025
Primary Sponsor
Charles Perry
Click for details
AI Summary
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Exempts motor vehicle transfers from a decedent's estate to a distributee from all taxes imposed under Chapter 152 of the Tax Code
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Exempts motor vehicle transfers made under a rights of survivorship agreement from taxation
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Removes "decedent's estate" from the list of entities whose motor vehicle gifts qualify only for the reduced gift tax rate, instead providing a full exemption
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Updates filing requirements for gift tax statements to reflect the removal of estate transfers from the gift tax provisions
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Takes effect September 1, 2025, and applies only to transfers occurring on or after that date
Legislative Description
Relating to an exemption from certain taxes imposed on the transfer of a motor vehicle to a person from a decedent or the decedent's estate.
Taxation
Last Action
Effective on 9/1/25
6/20/2025