Income tax, state; subtraction for certain death benefit payments. (HB879)

Introduced By

Del. Mark Sickles (D-Alexandria)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Income tax; subtraction for certain death benefit payments.  Clarifies that the current subtraction applies only to death benefit payments (i) paid to a beneficiary that are pursuant to an annuity contract between an annuitant and an insurance company and (ii) paid solely by lump sum. The bill reflects the current manner in which the Department of Taxation is implementing the subtraction. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/11/2012Committee
01/11/2012Prefiled and ordered printed; offered 01/11/12 12101171D
01/11/2012Referred to Committee on Finance
01/20/2012Assigned Finance sub: #2
01/23/2012Impact statement from TAX (HB879)
01/25/2012Subcommittee recommends reporting (10-Y 0-N)
01/30/2012Reported from Finance (22-Y 0-N) (see vote tally)
01/31/2012Read first time
02/01/2012Read second time and engrossed
02/02/2012Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/02/2012VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/03/2012Constitutional reading dispensed
02/03/2012Referred to Committee on Finance
02/20/2012Impact statement from TAX (HB879)
02/22/2012Reported from Finance with amendment (13-Y 0-N) (see vote tally)
02/23/2012Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/24/2012Read third time
02/24/2012Reading of amendment waived
02/24/2012Committee amendment agreed to
02/24/2012Engrossed by Senate as amended
02/24/2012Passed Senate with amendment (37-Y 0-N) (see vote tally)
02/24/2012Reconsideration of Senate passage agreed to by Senate (38-Y 0-N) (see vote tally)
02/24/2012Passed Senate with amendment (38-Y 0-N) (see vote tally)
02/27/2012Placed on Calendar
02/28/2012Senate amendment agreed to by House (98-Y 0-N)
02/28/2012VOTE: ADOPTION (98-Y 0-N) (see vote tally)
03/05/2012Enrolled
03/05/2012Bill text as passed House and Senate (HB879ER)
03/05/2012Impact statement from TAX (HB879ER)
03/05/2012Signed by Speaker
03/07/2012Signed by President
03/21/2012G Approved by Governor-Chapter 305 (effective 7/1/12)
03/21/2012G Acts of Assembly Chapter text (CHAP0305)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 2 minutes.