SENATE BILL REPORT

SB 6395

BYSenators Nelson, Talmadge and Newhouse

Correcting obsolete inheritance tax references.

Senate Committee on Law & Justice

Senate Hearing Date(s):January 16, 1990; January 18, 1990

Majority Report:  That Substitute Senate Bill No. 6395 be substituted therefor, and the substitute bill do pass.

      Signed by Senators Nelson, Chairman; McCaslin, Vice Chairman; Hayner, Madsen, Newhouse, Niemi, Patrick, Rasmussen, Rinehart, Talmadge, Thorsness.

Senate Staff:Vicki E. Schur (786-7415)

                  February 5, 1990

AS REPORTED BY COMMITTEE ON LAW & JUSTICE, JANUARY 18, 1990

BACKGROUND:

In 1982, inheritance tax was eliminated in Washington and replaced by estate and transfer taxes.  There are references to inheritance tax and the Inheritance Tax Division which have never been deleted.

SUMMARY:

Obsolete references to inheritance tax, Inheritance Tax Division and inheritance and federal death tax are deleted.

EFFECT OF PROPOSED SUBSTITUTE:

Sections of Title 23A RCW, relating to the transfer of shares between spouses, repealed effective June 30, 1990, were inadvertently deleted from Title 23B RCW which replaces Title 23A RCW, are added to the Probate and Trust Code.  An inheritance tax release is not necessary to transfer shares of a deceased spouse.

Appropriation:    none

Revenue:    none

Fiscal Note:      available

Senate Committee - Testified: Michael Carrico, Washington State Bar Association Estate and Gift Tax Committee