72-16-445. In-kind payment -- intent. It is the intent of 72-16-445 through 72-16-450 to allow the payment of inheritance and estate taxes by the transfer to the state of unique objects of significant historical or artistic interest, extremely unique sites or buildings of historical interest, and easements and other recognized interests in land to conserve unique open space and to preserve wildlife habitat, park, recreational, historic, aesthetic, cultural, and natural values on or related to land, while limiting the impact of such transfers on the revenue collected under this chapter. It is the intent of 72-16-445 through 72-16-450 to allow in-kind payment for a short period of time to evaluate the impact of 72-16-445 through 72-16-450 on revenue, to evaluate the types of in-kind payments which are recommended by the department of revenue, and to evaluate the ability of receiving entities to manage the in-kind payments. It is not the intent of 72-16-445 through 72-16-450 to create a right in any donor to pay estate or inheritance taxes with an in-kind payment.

     History: En. Sec. 1, Ch. 736, L. 1985.