Family and Children's Trust Fund; exempt from taxation. (HB1207)

Introduced By

Del. Chris Peace (R-Mechanicsville) with support from co-patron Del. Paul Krizek (D-Alexandria)

Progress

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

Description

Family and Children's Trust Fund; exempt from taxation. Clarifies that the Family and Children's Trust Fund performs an essential governmental function and thus gifts, contributions, grants, devises, or bequests, whether personal or real property, and the income therefrom, accepted by the Trust Fund are exempt from all state and local taxes and regarded as the property of the Commonwealth for the purposes of all tax laws. Amends § 63.2-2100, of the Code of Virginia. Read the Bill »

Status

04/01/2016: signed by governor

History

DateAction
01/18/2016Committee
01/18/2016Presented and ordered printed 16103440D
01/18/2016Referred to Committee on Finance
01/23/2016Impact statement from TAX (HB1207)
02/02/2016Assigned to sub: Subcommittee #2
02/02/2016Assigned Finance sub: Subcommittee #2
02/03/2016Subcommittee recommends reporting (6-Y 0-N)
02/08/2016Reported from Finance (22-Y 0-N) (see vote tally)
02/09/2016Read first time
02/10/2016Read second time and engrossed
02/11/2016Read third time and passed House BLOCK VOTE (97-Y 0-N)
02/11/2016VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/12/2016Constitutional reading dispensed
02/12/2016Referred to Committee on Finance
02/16/2016Impact statement from TAX (HB1207)
03/02/2016Reported from Finance (15-Y 0-N) (see vote tally)
03/03/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/03/2016Read third time
03/03/2016Passed Senate (40-Y 0-N) (see vote tally)
03/07/2016Enrolled
03/07/2016Bill text as passed House and Senate (HB1207ER)
03/07/2016Impact statement from TAX (HB1207ER)
03/07/2016Signed by Speaker
03/09/2016G Governor's Action Deadline Midnight, Monday, April 11, 2016
03/09/2016Signed by President
03/09/2016Enrolled Bill communicated to Governor on 3/9/2016
03/09/2016G Governor's Action Deadline Midnight, Sunday, April 10, 2016
04/01/2016G Approved by Governor-Chapter 627 (effective 7/1/16)
04/01/2016G Acts of Assembly Chapter text (CHAP0627)

Duplicate Bills

The following bills are identical to this one: SB346.