Public Chapter 269

SENATE BILL NO. 431

By Fowler

Substituted for: House Bill No. 432

By Fowlkes

AN ACT To amend Tennessee Code Annotated, Title 67, relative to inheritance, estate and gift taxes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 67-1-703(b), is amended by deleting paragraph (3) in its entirety and substituting instead the following:

(3) The return of a decedent shall, upon written request, be open to inspection by or disclosure to an administrator, executor, trustee or beneficiary of the decedent's estate. However, in order to obtain the return, a beneficiary must submit a sworn affidavit stating that: the affiant was a beneficiary of the estate who received a distribution of assets from the estate in kind; the affiant needs the return to accurately determine the federal income tax basis of such assets; and the affiant has requested the return from the personal representative who could not or would not provide it.

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.