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

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

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

Bill Comments

feedback