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2019 SPECIAL SESSION I

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HB 4013 Taxes on income, wills, and administrations; exemption for victims of the Va. Beach mass shooting.

Introduced by: Barry D. Knight | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Taxes on income, wills, and administrations; exemption for victims of the Virginia Beach mass shooting and for payments to such victims. Establishes an income tax exemption for relief payments paid to a victim of the Virginia Beach mass shooting or a parent, guardian, child, or spouse of a victim. The bill also establishes an exemption from probate tax for a person killed or injured in the shooting. The bill provides that if, prior to its enactment, a person eligible for a tax exemption pursuant to the bill paid tax to the Commonwealth or a locality for a will or grant of administration of a victim's estate, either the Commonwealth or the locality shall refund the tax.

The bill establishes a deduction for a taxpayer's relief payment, whether directly or indirectly, to a victim of the Virginia Beach mass shooting, provided the taxpayer coordinates with the City of Virginia Beach to identify victims and distribute payments. The bill contains an emergency clause.


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