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2015 Regular Session
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Bill Title: Relating to the estate tax credit for natural resource property; and prescribing an effective date.
Catchline/Summary: For purposes of natural resource credit against estate tax, modifies definition of "natural resource property" to mean property in state.
Expands definition of "real property," for purposes of natural resource credit against estate tax, to include real property in neighboring states.] Applies to tax years beginning on or after January 1, 2014.] Provides that determination of eligibility for credit is based on ratio of in-state property to in-state portion of gross estate. Applies to estates of decedents dying on or after January 1, 2015. Takes effect on 91st day following adjournment sine die.
Chapter Number: Chapter 301
Fiscal Impact: Has Minimal Fiscal Impact
Revenue Impact: Has Minimal Revenue Impact
Measure Analysis: Staff Measure Summary / Impact Statements
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Potential Conflicts of Interest/Vote Explanations: Potential Conflicts of Interest/Vote Explanation Documents
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