Income tax, state; taxation of trusts established for disabled individuals. (HB1155)
Introduced By
Del. Eileen Filler-Corn (D-Fairfax Station)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Taxation of trusts established for disabled individuals. Establishes an individual income tax deduction not to exceed $2,000 for the fair market value of contributions made during the taxable year to certain supplemental needs trusts established for disabled individuals. The bill also would exempt from taxation the income earned by such trusts. The bill would become effective for taxable years beginning on or after January 1, 2012. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/16/2012 | Committee |
01/16/2012 | Presented and ordered printed 12101613D |
01/16/2012 | Referred to Committee on Finance |
02/02/2012 | Impact statement from TAX (HB1155) |
02/06/2012 | Continued to 2013 in Finance |