Estate tax; reinstates federal credit amount State would receive payments from deaths. (HB1895)
Introduced By
Del. Vivian Watts (D-Annandale) with support from co-patrons Sen. Chap Petersen (D-Fairfax), and Sen. Patsy Ticer (D-Alexandria)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Estate tax reinstated. Reinstates the federal credit amount so that the Commonwealth would receive payments from those estates of persons dying on or after July 1, 2009. No estate tax would be imposed on a gross estate if the majority of the assets of the total estate were an interest in a closely held business or a working farm. The revenues from the estate tax would first be used for funding staffing standards in nursing homes required to be established under the bill, which staffing standards would require a minimum of direct care services to each resident per 24-hour period. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/13/2009 | Committee |
01/13/2009 | Prefiled and ordered printed; offered 01/14/09 091190784 |
01/13/2009 | Referred to Committee on Finance |
01/16/2009 | Assigned Finance sub: 1 |
01/25/2009 | Impact statement from TAX (HB1895) |
01/28/2009 | Subcommittee recommends passing by indefinitely |
02/10/2009 | Left in Finance |
Comments
The Virginia Interfaith Center is monitoring this bill.