Substitute for Raised S.B. No. 1136
Session Year 2019


AN ACT ESTABLISHING A CREDIT AGAINST THE ESTATE TAX AND REQUIRING RECOMMENDATIONS FOR THE ESTABLISHMENT OF A SOCIAL IMPACT BONDING PROGRAM.

To (1) establish a credit against the estate tax for amounts invested by a decedent in certain bonds or funds, (2) require the Commissioner of Economic and Community Development to submit legislative recommendations to establish a social impact bonding program, and (3) impose a one and one-half per cent tax on the net gain from the sale or exchange of capital assets for certain taxpayers and dedicate such tax revenue to certain purposes.