The Senate Judiciary Committee heard HB 1520, sponsored by Sen. Messmer and Sen. Randolph, on the repeal of obsolete inheritance tax provisions. The bill repeals statutes imposing the inheritance tax and providing exemptions from and deductions to the inheritance tax (under current law the inheritance tax does not apply to a property interest transferred by a decedent whose death occurs after December 31, 2012), repeals or removes provisions relating to probate court administration of the inheritance tax (under current law the Department of State Revenue assumed administrative duties from the probate courts on April 1, 2016), and repeals the Indiana estate tax. The bill also makes technical corrections and conforming changes.
The bill passed 8-0.
Read the bill at: https://iga.in.gov/legislative/2017/bills/house/1520