Estate tax; reinstates federal credit amount State will receive payments from deaths after Jan. 1. (HB2376)
Introduced By
Del. David Englin (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 will receive payments from those estates owing federal estate tax, for deaths occurring on or after January 1, 2009. It does exempt estates valued at $5 million or less, working farms, and closely held businesses. The revenues raised from the tax shall be distributed equally to the Tuition Assistance Grant program, the Virginia Preschool Initiative, and the Healthy Families Virginia program. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/14/2009 | Committee |
| 01/14/2009 | Prefiled and ordered printed; offered 01/14/09 097711500 |
| 01/14/2009 | Referred to Committee on Finance |
| 01/20/2009 | Assigned Finance sub: 1 |
| 01/25/2009 | Impact statement from TAX (HB2376) |
| 01/28/2009 | Subcommittee recommends passing by indefinitely |
| 02/10/2009 | Left in Finance |
Comments
VERY Important hope it passes