Income tax, state; military retirement pay subtraction. (HB130)

Introduced By

Del. Terry Kilgore (R-Gate City) with support from co-patrons Del. Gordon Helsel (R-Poquoson), Del. Don Merricks (R-Danville), Del. John O'Bannon (R-Richmond), Del. Nick Rush (R-Christiansburg), and Del. Tom Rust (R-Herndon)

Progress

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

Description

Individual income tax; military retirement pay subtraction.  Establishes an individual income tax subtraction for annual retirement compensation received for service as a member of the Armed Forces of the United States or the Virginia National Guard. The subtraction is effective beginning with the 2012 taxable year. Amends § 58.1-322, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/04/2012Prefiled and ordered printed; offered 01/11/12 12100284D
01/04/2012Referred to Committee on Finance
01/12/2012Assigned Finance sub: Subcommittee #3
02/02/2012Impact statement from TAX (HB130)
02/06/2012Continued to 2013 in Finance
11/29/2012Left in Finance

Comments

Darrell Johnston writes:

I would say honorable but your actions speak louder than your words, you had two chances to truly show your support to our Vetrens in HB 130 and HB 131 and you killed them both this session. Stop calling Virginia a Vetren friendly state or put your money where your mouth is by reinstating and passing these bills!

Darrell Johnston

Gregg J writes:

The legislature is considering a bill to provide a $500 tax credit for people that telecommute to work. However they cannot provide a tax break for the state's retired veterans in a time when the economy is hurting. For the record, if someone has a job and doesn't spend money commuting to work....THEY DON'T NEED A TAX BREAK.