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Committee advances bill changing capital gains and estate tax timing and structure
Summary
Engrossed Substitute Senate Bill 58 13, which revises capital gains and estate tax provisions, was reported out of the House Finance Committee with amendments including a delay to some estate-tax effective dates; final committee vote was 10-5.
The House Finance Committee voted to report Engrossed Substitute Senate Bill 58 13 out of committee with a due-pass-as-amended recommendation after amendments adjusting effective dates and adding provisions for farms and estate calculations.
Tracy Taylor, committee staff, described the bill as making “changes to the capital gains tax and the estate tax” and summarized multiple amendments. Representative Santos offered amendment H2318.2 to remove retroactivity from estate-tax changes; the adopted amendment made estate-tax changes applicable to estates of decedents dying on…
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