VirginiaHB14142025 Regular SessionHouse

Estate tax; reinstates tax for persons dying on and after July 1, 2024.

Sponsored By: Elizabeth B. Bennett-Parker (Democratic)

Failed

Summary

Reinstatement of the estate tax. Reinstates the estate tax for persons dying on and after July 1, 2024. The bill provides that no estate tax shall be imposed on a gross estate if the majority of the assets of the estate are an interest in a closely held business or a working farm. The bill designates revenues from the estate tax to be used for early childhood care and education purposes.

Finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Elizabeth B. Bennett-Parker

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 7 • No: 0

House vote • 2/7/2024

Continued to 2025 with substitute in Finance (Voice Vote)

Yes: 0 • No: 0

House vote • 2/5/2024

Subcommittee recommends continuing to 2025 with substitute

Yes: 7 • No: 0

Actions Timeline

  1. Left in Finance

    11/18/2024House
  2. Continued to 2025 with substitute in Finance (Voice Vote)

    2/7/2024House
  3. Committee substitute posted to LIS only 24107085D-H1

    2/7/2024House
  4. Subcommittee recommends continuing to 2025 with substitute (7-Y 0-N)

    2/5/2024House
  5. House subcommittee amendments and substitutes offered

    2/5/2024House
  6. Impact statement from TAX (HB1414)

    2/3/2024House
  7. Assigned Finance sub: Subcommittee #3

    2/2/2024House
  8. Referred to Committee on Finance

    1/17/2024House
  9. Presented and ordered printed 24104291D

    1/17/2024House

Bill Text

  • Substitute

    2/16/2024

  • Introduced

    1/22/2024

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