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Sponsors: Rep. W.D. Smith
Document Path: l:\council\bills\dka\3225dc03.doc
Companion/Similar bill(s): 926, 4485
Introduced in the House on February 18, 2003
Introduced in the Senate on February 25, 2003
Adopted by the General Assembly on June 4, 2003
Summary: Death tax, Congress asked to permanently repeal
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/18/2003 House Introduced HJ-2 2/18/2003 House Referred to Committee on Invitations and Memorial Resolutions HJ-2 2/19/2003 House Committee report: Favorable Invitations and Memorial Resolutions HJ-7 2/20/2003 House Adopted, sent to Senate HJ-28 2/25/2003 Senate Introduced SJ-14 2/25/2003 Senate Referred to Committee on General SJ-14 3/26/2003 Senate Committee report: Favorable General SJ-37 6/4/2003 Senate Adopted, returned to House with concurrence SJ-110
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VERSIONS OF THIS BILL
March 26, 2003
S. Printed 3/26/03--S.
Read the first time February 25, 2003.
To whom was referred a Concurrent Resolution (H. 3618) to memorialize the Congress of the United States to permanently repeal, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
WILLIAM MESCHER for Committee.
TO MEMORIALIZE THE CONGRESS OF THE UNITED STATES TO PERMANENTLY REPEAL THE DEATH TAX.
Whereas, under tax relief legislation passed in 2001, the Death Tax was temporarily phased out, not permanently eliminated; and
Whereas, women and minorities are very often owners of small and medium-sized businesses, and the death tax prevents their children from reaping the rewards of a lifetime trying to make a better life; and
Whereas, farmers and other small businesses will face losing their farms and businesses if the federal government resumes the heavy taxation of citizens at death; and
Whereas, employees suffer when they lose their jobs when small and medium-sized businesses are liquidated to pay death taxes and because high capital costs depress the number of businesses that could offer them a job; and
Whereas, if the estate tax had been repealed in 1996, over the next nine years the United States economy would have averaged as much as $11 billion each year in extra output, and an average of 145,000 additional new jobs would have been created; and
Whereas, the persistent uncertainty created by the sunset provision prevents families and small businesses from taking advantage of the temporary repeal; and
Whereas, having repeatedly passed both the United States House of Representatives and the United States Senate, elimination of the death tax has proved to hold wide bipartisan support. Now, therefore,
Be it resolved by the House of Representatives, the Senate concurring:
That the members of the South Carolina General Assembly, by this resolution, memorialize the Congress of the United States to permanently repeal the death tax.
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.
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