|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor H.B. 13
|
|
|
|
|
|
|
|
|
|
[(c)](D) The inheritance tax rate for property that passes from a decedent to
or for the use of a brother or sister of the decedent is:
(1) 8% of the clear value of the property for decedents dying on or after
July 1, 1999 but before July 1, 2000;
(2) 6% of the clear value of the property for decedents dying on or after
July 1, 2000 but before July 1, 2001; and
(3) 5% of the clear value of the property for decedents dying on or after
July 1, 2001.
SECTION 2. AND BE IT FURTHER ENACTED, That Section(s) 2-206(n),
2-207, 5-505, and 7-307 of Article—Estates and Trusts of the Annotated Code of
Maryland be repealed.
SECTION 2. 3. AND BE IT FURTHER ENACTED, That Section(s) 1-101(j);
2-701 and 2-702 and the subtitle "Subtitle 7. Inheritance Tax Revenue Distribution";
7-201 through 7-225, inclusive, 7-231(a) through (d), inclusive, 7-232 through
7-234, inclusive, and the subtitle "Subtitle 2. Inheritance Tax"; 13-511; 13-845 and
the part "Part VII. Sale of Estate Property"; and 13-906 of Article Tax—General of
the Annotated Code of Maryland be repealed.
SECTION 3. 4. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:
Article—Business Regulation
5-503.
(b) The interest of an owner of a burial lot or crypt that is held for the burial
of the owner or others and not held as an investment is not:
(1) considered property;
(2) subject to attachment or execution for debt;
(3) subject to the insolvency laws of the State; OR
(4) to be inventoried in the estate of the owner[; or
(5) subject to inheritance taxes].
(e) The interest of an owner of a burial lot or crypt that is held as an
investment and not held for the burial of the owner or others is:
(1) considered personal property;
(2) subject to attachment or execution for debt;
(3) subject to the insolvency laws of the State; AND
(4) to be inventoried in the estate of the owner [; and
(5) subject to inheritance taxes].
|
|
|
|
|
|
|
|
|
|
- 4215 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
