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DIGEST OF INTRODUCED BILL
Inheritance tax, estate tax, and GST tax. Phases out the inheritance tax beginning July 1, 2012, by giving an increasing credit against the inheritance tax due. Provides that the inheritance tax does not apply to the transfer of property interests by a decedent whose death occurs after June 30, 2017. Phases out payments of the inheritance tax replacement amount to counties over a period between 2012 and 2017. Provides that the estate tax and generation skipping transfer (GST) tax do not apply after June 30, 2017. Makes technical corrections.