1999

SENATE JOINT MEMORIAL 99-004

BY SENATORS Hillman, Arnold, Blickensderfer, Chlouber, Epps, Evans, Musgrave, Sullivant, and Teck;

also REPRESENTATIVES Young, Alexander, Coleman, Dean, Decker, Fairbank, Hefley, Hoppe, Johnson, Kester, King, Lawrence, Lee, McElhany, McKay, Miller, Mitchell, Nunez, Pfiffner, Spradley, Stengel, Taylor, Webster, T. Williams, and Zimmerman.

MEMORIALIZING THE UNITED STATES CONGRESS TO REPEAL THE FEDERAL UNIFIED GIFT AND ESTATE TAX.

WHEREAS, The Federal Unified Gift and Estate Tax, or "Death Tax", generates a minimal amount of federal revenue, especially considering the high cost of collection and compliance and in fact has been shown to decrease federal revenues from what they might otherwise have been; and

WHEREAS, This federal Death Tax has been identified as destructive to job opportunity and expansion, especially to minority entrepreneurs and family farmers; and

WHEREAS, This federal Death Tax causes severe hardship to growing family businesses and family farming operations, often to the point of partial or complete forced liquidation; and

WHEREAS, Critical state and local leadership assets are unnecessarily destroyed and forever lost to the future detriment of their communities through relocation or liquidation; and

WHEREAS, Local and state schools, churches, and numerous charitable organizations would greatly benefit from the increased employment and continued family business leadership that would result from the repeal of the federal Death Tax; now, therefore,

Be It Resolved by the Senate of the Sixty­second General Assembly of the State of Colorado, the House of Representatives concurring herein:

That the Congress of the United States is hereby memorialized to immediately repeal the Federal Unified Gift and Estate Tax.

Be It Further Resolved, That copies of this Joint Memorial be sent to the President of the United States, the Speaker of the United States House of Representatives, the President of the United States Senate, and each member of the Colorado congressional delegation.

_________________________ _________________________

Ray Powers Russell George

PRESIDENT OF SPEAKER OF THE HOUSE

THE SENATE OF REPRESENTATIVES

_________________________ _________________________

Patricia K. Dicks Judith M. Rodrigue

SECRETARY OF CHIEF CLERK OF THE HOUSE

THE SENATE OF REPRESENTATIVES