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- Subject Index: Since 1995
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Developed and maintained by the Division of Legislative Automated Systems.
2006 SESSION
SB 504 Estate tax; conformity of state and federal statutes.
Introduced by: Thomas K. Norment, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Estate tax. Provides that for deaths occuring on or after December 31, 2006, a tax in the amount of the federal credit shall be imposed on the taxable estate of a resident whose gross estate exceeds $10 million. However, the tax will not be imposed on an estate if the majority of the assets are an interest in a closely-held business or a working farm.
FULL TEXT
- 01/11/06 Senate: Prefiled and ordered printed; offered 01/11/06 067012780 pdf | impact statement
- 02/15/06 Senate: Committee substitute printed 069224712-S1 pdf | impact statement
- 02/27/06 House: Committee substitute printed 067381780-H1 pdf
HISTORY
- 01/11/06 Senate: Prefiled and ordered printed; offered 01/11/06 067012780
- 01/11/06 Senate: Referred to Committee on Finance
- 02/14/06 Senate: Reported from Finance with substitute (13-Y 2-N)
- 02/15/06 Senate: Committee substitute printed 069224712-S1
- 02/15/06 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/15/06 Senate: VOTE: (38-Y 0-N)
- 02/16/06 Senate: Read second time
- 02/16/06 Senate: Reading of substitute waived
- 02/16/06 Senate: Committee substitute agreed to 069224712-S1
- 02/16/06 Senate: Engrossed by Senate - committee substitute SB504S1
- 02/17/06 Senate: Read third time and passed Senate (35-Y 4-N)
- 02/17/06 Senate: VOTE: (35-Y 4-N)
- 02/17/06 Senate: Communicated to House
- 02/20/06 House: Placed on Calendar
- 02/20/06 House: Read first time
- 02/20/06 House: Referred to Committee on Finance
- 02/27/06 House: Reported from Finance with substitute (21-Y 1-N)
- 02/27/06 House: Committee substitute printed 067381780-H1
- 02/28/06 House: Read second time
- 03/01/06 House: Read third time
- 03/01/06 House: Committee substitute agreed to 067381780-H1
- 03/01/06 House: Engrossed by House - committee substitute SB504H1
- 03/01/06 House: Passed House with substitute (92-Y 6-N)
- 03/01/06 House: VOTE: PASSAGE (92-Y 6-N)
- 03/01/06 Senate: House substitute rejected by Senate (4-Y 35-N)
- 03/01/06 Senate: VOTE: (4-Y 35-N)
- 03/01/06 House: House insisted on substitute
- 03/01/06 House: House requested conference committee
- 03/01/06 Senate: Senate acceded to request (36-Y 0-N)
- 03/01/06 Senate: VOTE: (36-Y 0-N)
- 03/01/06 Senate: Conferees appointed by Senate
- 03/01/06 Senate: Senators: Norment, Chichester, Howell
- 03/01/06 House: Conferees appointed by House
- 03/01/06 House: Delegates: Tata, Ware, R.L., Johnson
- 03/11/06 Senate: No further action taken
- 03/11/06 Senate: Failed to pass in Senate