Income tax, state; insurance premiums. (HB314)

Introduced By

Del. Kaye Kory (D-Falls Church)

Progress

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

Description

Individual income tax deduction; insurance premiums. Eliminates the requirements of at least $20,000 in earned income and no more than $30,000 in federal adjusted gross income in order for individuals age 66 or older to deduct prepaid funeral, medical, and dental insurance premiums in computing Virginia individual income taxes. The General Assembly enacted legislation in 2013 allowing individuals age 66 or older with at least $20,000 in earned income and not more than $30,000 in federal adjusted gross income to deduct such premiums. The bill is effective January 1, 2014. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/02/2014Committee
01/02/2014Prefiled and ordered printed; offered 01/08/14 14100358D
01/02/2014Referred to Committee on Finance
01/13/2014Assigned Finance sub: Subcommittee #2
01/14/2014Impact statement from TAX (HB314)
01/29/2014Subcommittee recommends continuing to 2015
02/03/2014Continued to 2015 in Finance