Income tax, state; tax credit for disabled military veterans. (HB131)

Introduced By

Del. Terry Kilgore (R-Gate City)

Progress

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

Description

Individual income tax credit; disabled military veterans.  Establishes an individual income tax credit beginning with the 2012 taxable year for veterans with a military service-connected disability. The credit would be computed by multiplying the veteran's disability rating for the taxable year by the amount of his Virginia individual income tax liability for the year. The veteran's disability rating would be determined using the disability ratings of the U.S. Department of Veterans Affairs. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/04/2012Committee
01/04/2012Prefiled and ordered printed; offered 01/11/12 12100283D
01/04/2012Referred to Committee on Finance
01/12/2012Assigned Finance sub: Subcommittee #3
01/21/2012Impact statement from TAX (HB131)
02/06/2012Continued to 2013 in Finance

Comments

Gregg J writes:

The bill should have passed. I don't understand how Virginia politians get away with saying this is the most military friendly state. For example, Pennsylvania, New York, Texas, etc all exempt military retired pay from income taxes. It seems clear to me these states are more military friendly than Virginia. Instead of passing HB131, Virginia gives free hunting and fishing licenses to 100% disabled veterans. Quick question, how many 100% disabled veterans are walking through the woods carrying the gear needed to hunt. Probably zero if there are 100% disabled. Virginia legislature do whats right for state disabled veterans and pass HB131.

Gregg J writes:

As an update lets look at the states that manage to be veteran and military friendly. These states do not tax military retired pay: Alabama, Alaska, Florida, Illnois, Kansas, Kentucky, Louisiana, Massachusetts, Michigan, Mississippi, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Washington, Wisconsin and Wyoming.

Virginia is one of only ten states that tax 100% of military retired pay. Lets get this legislation passed or stop calling this the most military and veteran friendly state. There is no need to keep all these military bases here with so many other states stepping up to support veterans.