Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
S. 550
STATUS INFORMATION
Concurrent Resolution
Sponsors: Senator Hawkins
Document Path: l:\council\bills\swb\6354sd05.doc
Companion/Similar bill(s): 3229, 3980
Introduced in the Senate on March 2, 2005
Currently residing in the Senate Committee on Finance
Summary: Death tax
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 3/2/2005 Senate Introduced SJ-4 3/2/2005 Senate Referred to Committee on Finance SJ-4
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
REQUESTING THE CONGRESS OF THE UNITED STATES TO ABOLISH THE DEATH TAX IMMEDIATELY AND PERMANENTLY.
Whereas, under tax relief legislation the Death Tax was temporarily phased out beginning in 2001 but, if not permanently eliminated, will reappear in 2011 at pre-2001 tax rates; and
Whereas, the Death Tax places a tremendous tax burden on small businesses and family farms such that upon the death of their elders seventy percent of family businesses do not survive the second generation, and eighty-seven percent do not get passed onto a third generation; and
Whereas, the tax is particularly damaging for families working their way up the ladder and trying to accumulate wealth for the first time; and
Whereas, employees suffer layoffs when small and medium businesses are liquidated to pay death taxes; and
Whereas, if the Death Tax had been repealed in 1996 the United States would have realized billions of dollars in extra output and an average of 145,000 new jobs created each year since; and
Whereas, having repeatedly passed in the United States House of Representatives and Senate the repeal of the Death Tax holds wide bipartisan support. Now, therefore,
Be it resolved by the Senate, the House of Representatives concurring:
That the members of the South Carolina General Assembly, by this resolution, request that the Congress of the United States abolish the Death Tax immediately and permanently.
Be it further resolved that a copy of this resolution be forwarded to the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.
This web page was last updated on Friday, December 4, 2009 at 3:30 P.M.