VA HB1414 | 2025 | Regular Session
Note: Carry Over of previous HB1414
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 17 2024 - 25% progression
Action: 2024-11-18 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Comm Sub) [HTML]
Status: Introduced on January 17 2024 - 25% progression
Action: 2024-11-18 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Comm Sub) [HTML]
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.
Title
Estate tax; reinstates tax for persons dying on and after July 1, 2024.
Sponsors
Roll Calls
2024-02-05 - House - House: Subcommittee recommends continuing to 2025 with substitute (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-11-18 | House | Left in Finance |
| 2024-02-07 | House | Continued to 2025 with substitute in Finance (Voice Vote) |
| 2024-02-07 | House | Committee substitute posted to LIS only 24107085D-H1 |
| 2024-02-05 | House | Subcommittee recommends continuing to 2025 with substitute (7-Y 0-N) |
| 2024-02-05 | House | House subcommittee amendments and substitutes offered |
| 2024-02-03 | House | Impact statement from TAX (HB1414) |
| 2024-02-02 | House | Assigned Finance sub: Subcommittee #3 |
| 2024-01-17 | House | Referred to Committee on Finance |
| 2024-01-17 | House | Presented and ordered printed 24104291D |
Same As/Similar To
HB1414 (Carry Over) 2024-02-07 - Continued to 2025 with substitute in Finance by voice vote
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 58 | 1 | 901 | (n/a) | See Bill Text |
| 58 | 1 | 905 | (n/a) | See Bill Text |
| 58 | 1 | 912 | (n/a) | See Bill Text |
