HOUSE BILL ANALYSIS

                   HB 1159

Title:  An act relating to updating the probate and trust law to comport with Internal Revenue Code language.

Brief Description:  Comporting with Internal Revenue Code language.

Sponsors:  Representatives Hurst, Sheahan, Constantine and Kenney.

                     Brief Summary of Bill

CMakes a technical change to the statute governing marital deduction gifts in probate and trust law.

HOUSE COMMITTEE ON JUDICIARY

Staff:  Trudes Hutcheson (786-7384).

Background:

Under the Internal Revenue Code (IRC), every person is given a tax credit that can be used against federal estate taxes.  Because the credit is calculated as a credit against the total tax due for gifts made during the person=s life and gifts made at the person=s death, combined, it is sometimes referred to as the Aunified credit.@

Washington=s statute governing marital deduction gifts in trusts and estate law refers to this IRC credit as the Aunified credit.@  However, the IRC does not use or define the term Aunified credit,@ but simply refers to it as the Acredit.@

Summary of Bill:

A technical change is made to the statute governing marital deduction gifts in trust and estate law.  The term Aunified credit@ is changed to the Acredit@ for the sake of consistency with the Internal Revenue Code.

Fiscal Note:  Not requested.

Effective Date:  Ninety days after adjournment of session in which bill is passed.

                  Office of Program Research