Bill
Bill > H3035
summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to tax basis rules for property acquired from decedents. Revenue.
AI Summary
This bill aims to continue the existing tax basis rules for property acquired from decedents. Specifically, it states that for property acquired from a decedent who died between January 1, 2010 and December 31, 2010, the initial basis of the property will be determined under Section 1014 of the Internal Revenue Code, without reference to Sections 1014(d) and 1014(f). However, if the executor made an election under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, the initial basis will be determined under Section 1022 of the Code as it was amended and in effect on January 1, 2005.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Accompanied a study order, see H5352 (on 10/13/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H3035 |
| Bill | https://malegislature.gov/Bills/192/H3035.pdf |
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