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2011 SESSION

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HB 2476 Estate tax; reinstated for persons dying on or after July 1, 2011.

Introduced by: Algie T. Howell, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Estate tax reinstated.  Reinstates the estate tax for persons dying on or after July 1, 2011. No estate tax will be imposed on a gross estate (i) whose value is less than $3 million or (ii) if the majority of the assets of the estate is an interest in a closely held business or a working farm. The revenues from the estate tax would first be used for funding staffing standards in nursing homes required to be established under the bill, which staffing standards would require a minimum period of time of direct care services to each resident per 24-hour period.


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