Estate tax; dedication of revenues collected. (HB223)

Introduced By

Del. Vivian Watts (D-Annandale) with support from 6 copatrons, whose average partisan position is:

Those copatrons are Del. Kaye Kory (D-Falls Church), Del. Ken Plum (D-Reston), Del. Jim Scott (D-Merrifield), Sen. Chap Petersen (D-Fairfax), Sen. Scott Surovell (D-Mount Vernon), Sen. Patsy Ticer (D-Alexandria)

Progress

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

Description

Estate tax reinstated.  Reinstates the estate tax for persons dying on or after July 1, 2010. No estate tax will be imposed on a gross estate if the majority of the assets of the estate is 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 period of time of direct care services to each resident per 24-hour period. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2010Committee
01/11/2010Prefiled and ordered printed; offered 01/13/10 10101950D
01/11/2010Referred to Committee on Rules
01/27/2010Impact statement from TAX (HB223)
02/02/2010Referred from Rules
02/02/2010Referred to Committee on Finance
02/03/2010Assigned Finance sub: #1
02/08/2010Subcommittee recommends laying on the table (5-Y 2-N)
02/16/2010Left in Finance

Comments

Paul Kositizka writes:

Bad idea. This would impose a great deal of paperwork and administration and irritation for VA residents that we just got rid of not that long ago. If Revenue is needed find another way that does not bring along with it a lot of complicated, mind-numbing rules and regulations.