Texas 2009 - 81st Regular

Texas Senate Bill SB1605 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	81R12781 KLA-D
2	2	By: Shapleigh S.B. No. 1605
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the use of federal estate tax provisions in determining
8	8	the application of the Texas estate tax to certain transfers of
9	9	property and to the allocation of Texas estate tax revenue.
10	10	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
11	11	SECTION 1. Section 211.001(14), Tax Code, is amended to
12	12	read as follows:
13	13	(14) "Value" means value as finally determined and
14	14	used for purposes of computing the federal tax or the tax imposed by
15	15	this chapter.
16	16	SECTION 2. Section 211.003, Tax Code, is amended to read as
17	17	follows:
18	18	Sec. 211.003. REFERENCES TO INTERNAL REVENUE CODE. A
19	19	citation of or a reference to a subtitle, a chapter, or a section of
20	20	the Internal Revenue Code of 1954 is a citation of or reference to
21	21	[includes] that subtitle, chapter, or section as it existed
22	22	[exists] on December 31, 2000 [September 1, 1981, or as amended
23	23	after that date and also includes any other provision of the
24	24	Internal Revenue Code enacted after September 1, 1981, that is
25	25	similar to or a replacement of the subtitle, chapter, or section
26	26	cited or referred to].
27	27	SECTION 3. Section 211.056, Tax Code, is amended by
28	28	amending Subsection (a) and adding Subsection (a-1) to read as
29	29	follows:
30	30	(a) This section applies only to an estate that is subject
31	31	to both the federal tax and the tax imposed by this chapter.
32	32	(a-1) The comptroller shall confer with the Internal
33	33	Revenue Service of the United States to determine the value of a
34	34	decedent's estate that is located in this state and that is valued
35	35	by the United States for tax purposes.
36	36	SECTION 4. Subchapter B, Chapter 211, Tax Code, is amended
37	37	by adding Section 211.057 to read as follows:
38	38	Sec. 211.057. VALUE OF ESTATES NOT SUBJECT TO FEDERAL TAX.
39	39	The comptroller shall adopt rules for determining the value of a
40	40	decedent's estate that is located in this state and that is not
41	41	subject to the federal tax.
42	42	SECTION 5. Section 211.102, Tax Code, is amended to read as
43	43	follows:
44	44	Sec. 211.102. DAY ON WHICH PAYMENT IS DUE. Except as
45	45	provided by Sections 211.103 and 211.104 [211.104(b)], payment of a
46	46	tax imposed by Section 211.051, 211.052, or 211.053 [of this code]
47	47	on a decedent's estate is due nine months after the day of the
48	48	decedent's death.
49	49	SECTION 6. Section 211.103, Tax Code, is amended by adding
50	50	Subsection (a-1) to read as follows:
51	51	(a-1) The personal representative of an estate that is
52	52	subject to a tax imposed by this chapter but that is not subject to
53	53	the federal tax may request an extension of time under Section
54	54	111.057 for filing a report required by this chapter.
55	55	SECTION 7. Section 211.104, Tax Code, is amended by
56	56	amending Subsection (a) and adding Subsection (a-1) to read as
57	57	follows:
58	58	(a) This section applies only to an estate that is subject
59	59	to both the federal tax and the tax imposed by this chapter.
60	60	(a-1) Within 30 days after receiving notice or information
61	61	of the final assessment and determination of the value of the
62	62	taxable estate assessed and determined by the federal government
63	63	for the purpose of fixing federal estate taxes on that estate, the
64	64	personal representative shall make to the comptroller a report of
65	65	the value of the estate as so fixed and determined. The report
66	66	shall be made in a form and contain information as the comptroller
67	67	directs.
68	68	SECTION 8. Sections 211.105 and 211.106, Tax Code, are
69	69	amended to read as follows:
70	70	Sec. 211.105. DATE DUE OF TAXES ON GENERATION-SKIPPING
71	71	TRANSFERS. (a) The taxes imposed by this chapter on
72	72	generation-skipping transfers that are subject to the federal tax
73	73	are due and payable at the same time as the federal tax on
74	74	generation-skipping transfers.
75	75	(b) The comptroller shall adopt rules specifying a due date
76	76	for taxes imposed by this chapter on generation-skipping transfers
77	77	that are not subject to the federal tax.
78	78	Sec. 211.106. RETURNS. A payment relating to an estate that
79	79	is subject to the federal tax must [shall] be accompanied by a copy
80	80	of the federal estate or generation-skipping transfer tax return
81	81	filed with the Internal Revenue Service and the Texas tax return
82	82	containing any information the comptroller considers necessary for
83	83	the enforcement of this chapter. A payment relating to an estate
84	84	that is subject to the tax imposed by this chapter but is not
85	85	subject to the federal tax must be accompanied by the Texas tax
86	86	return [In the event no federal estate or generation-skipping
87	87	transfer tax has been paid or is due and no federal estate or
88	88	generation-skipping transfer tax return must be filed, the filing
89	89	of a Texas tax return is not required by this chapter].
90	90	SECTION 9. Section 211.301, Tax Code, is amended to read as
91	91	follows:
92	92	Sec. 211.301. ALLOCATION OF REVENUE [GENERAL REVENUE FUND].
93	93	The revenue from a tax, interest, or penalty imposed by this chapter
94	94	shall be deposited in the state treasury to the credit of the TEXAS
95	95	grant program account established under Section 56.312, Education
96	96	Code [general revenue fund].
97	97	SECTION 10. Section 56.310(b), Education Code, is amended
98	98	to read as follows:
99	99	(b) The legislature may appropriate money, including money
100	100	deposited to the credit of the TEXAS grant program account, for the
101	101	purposes of this subchapter.
102	102	SECTION 11. Subchapter M, Chapter 56, Education Code, is
103	103	amended by adding Section 56.312 to read as follows:
104	104	Sec. 56.312. TEXAS GRANT PROGRAM ACCOUNT. The TEXAS grant
105	105	program account is an account in the general revenue fund that may
106	106	be appropriated only to the coordinating board for the purpose of
107	107	implementing the TEXAS grant program under this subchapter.
108	108	SECTION 12. The change in law made by this Act to Chapter
109	109	211, Tax Code, applies only to a transfer of property subject to
110	110	that chapter that occurs as a result of the death of a person who
111	111	dies on or after the effective date of this Act. A transfer of
112	112	property that occurs as a result of the death of a person who dies
113	113	before the effective date of this Act is governed by the law in
114	114	effect on the date of the person's death, and that law is continued
115	115	in effect for that purpose.
116	116	SECTION 13. This Act takes effect September 1, 2009.