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.
January 9, 2003, read first time and referred to Committee on Finance.
A BILL FOR AN ACT to amend the Indiana Code concerning
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.