Estate tax; reinstated for persons dying on or after July 1, 2011. (HB2476)

Introduced By

Del. Algie Howell (D-Norfolk)

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, 2011. No estate tax will be imposed on a gross estate (i) whose value is less than $3 million or (ii) 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
01/21/2011Presented and ordered printed 11102598D
01/21/2011Referred to Committee on Finance
01/24/2011Assigned Finance sub: #1
01/29/2011Impact statement from TAX (HB2476)
01/31/2011Subcommittee recommends reporting with amendment(s) (11-Y 0-N)
01/31/2011Subcommittee recommends referring to Committee on Health, Welfare and Institutions
02/02/2011Referred from Finance
02/02/2011Referred to Committee on Health, Welfare and Institutions
02/08/2011Left in Health, Welfare and Institutions