Reducing the state inheritance tax rates and providing for the future repeal of the state inheritance tax and state qualified use inheritance tax

Where it is now

1. ✓
   Done: IntroducedApril 21, 2021
2. ✕
   Stopped: SubcommitteeDied when the General Assembly ended
3. Next: House committee
4. Next: Passes the House
5. Next: Senate committee
6. Next: Passes the Senate
7. Next: To the Governor
8. Next: Signed into law

Died when the session ended The 2022 session adjourned on May 24, 2022, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?

What’s in it

This bill proportionally reduces over a nine-year fiscal period the rates of tax applicable to the state inheritance tax, beginning for estates of decedents dying on or after July 1, 2021. The bill then repeals the state inheritance tax and the state qualified use inheritance tax effective July 1, 2030, for property of estates of decedents dying on or after July 1, 2030. Inheritance tax will not be imposed on any property in the event of the death of an individual on or after July 1, 2030. The bill directs the Code editor to remove Code chapters 450 (inheritance tax) and 450B (qualified use inheritance tax) from the Code effective July 1, 2040.

Full bill text¹

Iowa Code it changes

Creates§450.98§450B.8

Amends§450.10

How the Code works²

Family tree

Earlier and later bills are matched by wording or an identical title.

Tried before

This idea has been filed in an earlier General Assembly. None got through a chamber.

• SF 39 Reducing the state inheritance tax rates and providing for the future repeal of the state …
  88th General Assembly · In committee · same title
  Cleared committee

Matched by wording or an identical title.