HB 1414

  • Virginia House Bill
  • 2025 Regular Session
  • Introduced in House Jan 17, 2024
  • House
  • Senate
  • Governor

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

Abstract

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.

A BILL to amend and reenact ยงยง 58.1-901 through 58.1-905 and 58.1-912 of the Code of Virginia, relating to reinstatement of the estate tax. 24104291D

Bill Sponsors (1)

Votes


Actions


Nov 18, 2024

House

Left in Finance

Feb 07, 2024

House

Committee substitute posted to LIS only 24107085D-H1

House

Continued to 2025 with substitute in Finance (Voice Vote)

Feb 05, 2024

House

House subcommittee amendments and substitutes offered

House

Subcommittee recommends continuing to 2025 with substitute (7-Y 0-N)

Feb 03, 2024

House

Impact statement from TAX (HB1414)

Feb 02, 2024

House

Assigned Finance sub: Subcommittee #3

Jan 17, 2024

House

Referred to Committee on Finance

House

Presented and ordered printed 24104291D

Bill Text

Bill Text Versions Format
Substitute HTML PDF
Introduced HTML PDF

Related Documents

Document Format
Impact statement from TAX (HB1414) PDF

Sources

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