Introduced Version






SENATE BILL No. 250

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-4.1-1-3 .

Synopsis: Inheritance tax classification of stepchildren. Provides that for purposes of the inheritance tax a stepchild of the transferor is a Class A transferee.

Effective: July 1, 2003.





Alting




    January 9, 2003, read first time and referred to Committee on Finance.







Introduced

First Regular Session 113th General Assembly (2003)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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SENATE BILL No. 250



    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

    SECTION 1. IC 6-4.1-1-3 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 3. (a) "Class A transferee" means a transferee who is a:
         (1) lineal ancestor or of the transferor;
         (2) lineal descendant of the transferor; or
        (3) stepchild of the transferor.

    (b) "Class B transferee" means a transferee who is a:
        (1) brother or sister of the transferor;
        (2) descendant of a brother or sister of the transferor; or
        (3) spouse, widow, or widower of a child of the transferor.
    (c) "Class C transferee" means a transferee, except a surviving spouse, who is neither a Class A nor a Class B transferee.
    (d) For purposes of this section, a legally adopted child is to be treated as if he the child were the natural child of his the child's adopting parent. For purposes of this section, if a relationship of loco parentis has existed for at least ten (10) years and if the relationship began before the child's fifteenth birthday, the child is to be considered

the natural child of the loco parentis parent.
     (e) For purposes of this section, "stepchild" includes a stepchild of any age. The term also includes a child of an individual whose marriage to the transferor was dissolved before the date of the transferor's death if the child was born before the marriage of the transferor and the child's natural parent.
    SECTION 2. [EFFECTIVE JULY 1, 2003] IC 6-4.1-1-3 , as amended by this act, applies to the estate of an individual who dies after June 30, 2003.