S*0452 (Rat #0318, Act #0313 of 1986) General Bill, By Senate Finance
Similar (S 0319)
    A Bill to amend Section 12-15-40, as amended, Code of Laws of South Carolina, 1976, relating to the method of determining the value of the gross estate of a resident decedent; to amend Section 12-15-60, as amended, relating to the method of determining the value of the taxable estate of a resident decedent; to amend Section 12-15-250, as amended, relating to the method of determining the value of the taxable estate of a nonresident decedent; to amend Section 12-15-1540, as amended, relating to the liability of beneficiaries receiving proceeds of life insurance policies and related items; to amend Section 12-15-1550, relating to the applicability of certain estate tax provisions of law; to amend Section 12-17-40, as amended, relating to the definition of the term "taxable gifts"; to amend Section 12-17-44, relating to the effect that certain disclaimers of property interests have upon the imposition of the gift tax thereon, so as to revise these provisions for the purpose of adopting by reference for State of South Carolina purposes certain federal provisions of law; to amend Section 12-15-1560, as amended, relating to the transfer of assets of an estate to certain persons, so as to remove limitations on the amount of a checking or savings account that may be transferred to these persons upon notification to the Tax Commission but without its consent and without regard to the required ten-day notice period to the Commission; and to repeal Section 12-15-870, relating to the requirement that the Tax Commission give receipts for all sums collected by it.-amended title
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04/02/85	Senate	Introduced, read first time, placed on calendar without reference SJ-1240
04/04/85	Senate	Read second time SJ-1338
04/04/85	Senate	Ordered to third reading with notice of amendments SJ-1338
04/09/85	Senate	Read third time and sent to House SJ-1404
04/10/85	House	Introduced and read first time HJ-2230
04/10/85	House	Referred to Committee on Ways and Means HJ-2230
01/14/86	House	Committee report: Favorable Ways and Means HJ-33
01/16/86	House	Debate adjourned HJ-162
01/21/86	House	Amended HJ-200
01/21/86	House	Read second time HJ-201
01/22/86	House	Read third time HJ-238
01/22/86	House	Returned HJ-238
01/23/86	Senate	Concurred in House amendment and enrolled SJ-226
02/18/86		Ratified R 318
02/20/86		Signed By Governor
02/20/86		Effective date 02/20/86
02/20/86		Act No. 313
03/06/86		Copies available