VA SB540 | 2012 | Regular Session

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Passed on March 13 2012 - 100% progression
Action: 2012-03-13 - Governor: Acts of Assembly Chapter text (CHAP0263)
Text: Latest bill text (Chaptered) [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 prorating the amount of the exemption in the event there are owners in addition to the disabled veteran.

Tracking Information

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Title

Real estate tax; exemption for disabled veterans.

Sponsors


Roll Calls

2012-02-22 - House - House: VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (Y: 97 N: 0 NV: 5 Abs: 0) [PASS]
2012-02-20 - House - House: Reported from Finance (21-Y 0-N) (Y: 22 N: 0 NV: 1 Abs: 0) [PASS]
2012-02-15 - House - House: Subcommittee recommends reporting (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
2012-01-30 - Senate - Senate: Read third time and passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-01-26 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-01-25 - Senate - Senate: Reported from Finance with substitute (11-Y 0-N) (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2012-03-13 Governor: Acts of Assembly Chapter text (CHAP0263)
2012-03-13 Governor: Approved by Governor-Chapter 263 (effective 7/1/12)
2012-02-28 Senate: Signed by President
2012-02-27 House: Signed by Speaker
2012-02-27 Senate: Bill text as passed Senate and House (SB540ER)
2012-02-27 Senate: Enrolled
2012-02-22 House: VOTE: BLOCK VOTE PASSAGE (96-Y 0-N)
2012-02-22 House: Passed House BLOCK VOTE (96-Y 0-N)
2012-02-22 House: Read third time
2012-02-21 House: Read second time
2012-02-20 House: Reported from Finance (21-Y 0-N)
2012-02-15 House: Subcommittee recommends reporting (10-Y 0-N)
2012-02-13 House: Assigned Finance sub: #1
2012-02-13 House: Referred to Committee on Finance
2012-02-13 House: Read first time
2012-02-13 House: Placed on Calendar
2012-01-30 Senate: Read third time and passed Senate (40-Y 0-N)
2012-01-27 Senate: Engrossed by Senate - committee substitute SB540S1
2012-01-27 Senate: Committee substitute agreed to 12104692D-S1
2012-01-27 Senate: Reading of substitute waived
2012-01-27 Senate: Read second time
2012-01-26 Senate: Constitutional reading dispensed (40-Y 0-N)
2012-01-26 Senate: Incorporates SB529
2012-01-25 Senate: Committee substitute printed 12104692D-S1
2012-01-25 Senate: Reported from Finance with substitute (11-Y 0-N)
2012-01-13 Senate: Referred to Committee on Finance
2012-01-13 Senate: Presented and ordered printed 12103977D

Same As/Similar To

SB529 (Similar To) 2012-01-25 - Senate: Incorporated by Finance

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
5813219.5(n/a)See Bill Text

Virginia State Sources

TypeSource
Summaryhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+SB540
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB540+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB540S1+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+SB540ER+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+CHAP0263+hil
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+S05V0020+SB0540
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+SV0138SB0540+SB0540
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+SV0159SB0540+SB0540
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+H1001V0066+SB0540
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+H10V0276+SB0540
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+HV0992+SB0540

Bill Comments

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