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One proposed bill that Iowa State Senator for District 10 Jake Chapman has advocated for is a change to the state’s inheritance tax, which will be moving forward.
Chapman says the bill would aim to eliminate the inheritance tax has made its way through the first funnel deadline. The funnel week allows for bills that made it out of a full committee either in the House or Senate to still be debated, while others were effectively “dead” for the rest of the legislative session. Chapman gives his opinion of the benefits from this bill.
“We have a death tax in this state that we rob nearly $90 million from the grave every year and this is perhaps one of the most terrible tax policies we have in the state and there is a bill to eliminate the inheritance tax.”
While Chapman is happy that the bill made it through the first funnel week, he is hopeful it will continue through the second funnel week as well.
“We will see what makes it through this second funnel. That’s a really good indicator of what’s going to get passed and what’s not.”
The Senate Study Bill 1250 passed through a Senate subcommittee on Tuesday.