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HB 1414 Virginia House of Delegates · 2025 Regular Session

Estate tax; reinstates tax for persons dying on and after July 1, 2024.

Summary
Reinstatement of the estate tax. Reinstates the estate tax for persons dying on and after July 1, 2024. The bill provides that no estate tax shall be imposed on a gross estate if the majority of the assets of the estate are an interest in a closely held business or a working farm. The bill designates revenues from the estate tax to be used for early childhood care and education purposes.
Issues: ✓ Budget & TaxesSupports Budget & TaxesReinstates estate tax to fund early childhood care/education, directly increasing tax revenue for public service funding per bill's revenue allocation.90% confidence ✓ EducationSupports EducationDesignates estate tax revenue specifically for early childhood care and education, directly funding educational access and programs per bill summary.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 17, 2024 Last action Nov 18, 2024
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
9
Key actions
3
Committee
5
Feb 7, 2024
Lower · Passed
Committee substitute posted to LIS only 24107085D-H1
lower
Feb 5, 2024
Lower · Passed
Subcommittee recommends continuing to 2025 with substitute (7-Y 0-N)
lower
Feb 5, 2024
Lower · Passed
House subcommittee amendments and substitutes offered
lower
Feb 2, 2024
Committee
Assigned Finance sub: Subcommittee #3
lower
Jan 17, 2024
Committee
Referred to Committee on Finance
lower
Jan 17, 2024
Introduced
Presented and ordered printed 24104291D
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Elizabeth Bennett-Parker
Elizabeth Bennett-Parker
DDemocratic
VA
39