VA SB529 | 2012 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 11 2012 - 25% progression, died in chamber
Action: 2012-01-25 - Senate: Incorporated by Finance
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 11 2012 - 25% progression, died in chamber
Action: 2012-01-25 - Senate: Incorporated by Finance
Text: Latest bill text (Introduced) [HTML]
Summary
Real property tax exemption for disabled veterans. Provides that the tax exemption for the primary residence of a disabled veteran, a disabled veteran and his spouse, or a surviving spouse of a disabled veteran includes real property (i) held in a revocable inter vivos trust over which the veteran, the veteran and his spouse, or the surviving spouse hold the power of revocation; (ii) held in an irrevocable trust under which a veteran alone or in conjunction with his spouse possesses a life estate or an estate for joint lives, or enjoys a continuing right of use or support; or (iii) held by a veteran alone or in conjunction with his spouse as tenant or tenants for life or joint lives. The bill also provides that the exemption for the surviving spouse of a disabled veteran includes property held in any of these ways. Finally, the bill establishes a formula for pro rating the amount of the exemption in the event there are owners in addition to the disabled veteran.
Title
Real estate tax; exemption for disabled veterans.
Sponsors
Roll Calls
2012-01-25 - Senate - Senate: Incorporated by Finance (Y: 9 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-01-25 | Senate: Incorporated by Finance | |
| 2012-01-25 | Senate: Incorporated by Finance | |
| 2012-01-25 | Senate: Incorporated by Finance | |
| 2012-01-11 | Senate: Referred to Committee on Finance | |
| 2012-01-11 | Senate: Presented and ordered printed 12103974D |
Same As/Similar To
SB540 (Similar To) 2012-03-13 - Governor: Acts of Assembly Chapter text (CHAP0263)
