Wills & trusts; formula clauses referring to federal estate, generation-skipping transfer tax laws. (HB755)
Introduced By
Del. Bill Janis (R-Glen Allen)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Wills and trusts; formula clauses referring to federal estate and generation-skipping transfer tax laws; application. Provides that a formula for calculating transfers or devises based on federal estate or generation-skipping transfer tax law contained in a will or trust of a decedent who dies after December 31, 2009, and before January 1, 2011, shall be construed to refer to the tax law applicable on December 31, 2009. The bill is intended to address the consequences of the repeal of the federal estate and generation-skipping transfer taxes with respect to estates and taxable transfers occurring after December 31, 2009, and before January 1, 2011. The bill contains an emergency clause and its provisions will also be effective retroactive to December 31, 2009. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 01/12/2010 | Committee |
| 01/12/2010 | Prefiled and ordered printed with emergency clause; offered 01/13/10 10103481D |
| 01/12/2010 | Referred to Committee for Courts of Justice |
| 01/19/2010 | Assigned Courts sub: Civil |
| 01/25/2010 | Subcommittee recommends reporting (9-Y 0-N) |
| 01/27/2010 | Reported from Courts of Justice (22-Y 0-N) (see vote tally) |
| 01/29/2010 | Read first time |
| 02/01/2010 | Read second time and engrossed |
| 02/02/2010 | Read third time and passed House BLOCK VOTE (97-Y 0-N) |
| 02/02/2010 | VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally) |
| 02/03/2010 | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
| 02/03/2010 | Constitutional reading dispensed |
| 02/03/2010 | Referred to Committee for Courts of Justice |
| 02/17/2010 | Assigned Courts sub: Civil |
| 02/22/2010 | Reported from Courts of Justice (15-Y 0-N) (see vote tally) |
| 02/23/2010 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 02/24/2010 | Read third time |
| 02/24/2010 | Passed Senate (40-Y 0-N) (see vote tally) |
| 03/02/2010 | Enrolled |
| 03/02/2010 | Bill text as passed House and Senate (HB755ER) |
| 03/02/2010 | Signed by Speaker |
| 03/03/2010 | Signed by President |
| 04/07/2010 | G Approved by Governor-Chapter 238 (effective 4/7/10) |
| 04/07/2010 | G Approved by Governor-Chapter 238 (effective 4/7/10 see bill) |
| 04/07/2010 | G Acts of Assembly Chapter text (CHAP0238) |
Comments
The VSCPA supports this bill. For more information please visit http://www.vscpa.com/Content/VSCPA/LegislativeRegulatory/2010SessionWatch.aspx.