2006 Regular Session

HOUSE BILL 814

File Code: Taxes - Income Prior Year Introduction As: HB 1253/05 - W&M
Sponsored By:
Delegates Cryor, Barkley, Bartlett, Bohanan, Boschert, Bromwell, Bronrott, Cadden, Dumais, Dwyer, Edwards, Elmore, Feldman, Frank, Gilleland, Glassman, Gutierrez, Hogan, Jameson, Kach, Kaiser, Kelly, Kohl, Lawton, Leopold, Love, Mandel, McDonough, McHale, Morhaim, Myers, O'Donnell, Quinter, Rudolph, Shewell, Smigiel, Sossi, Stocksdale, Stull, Trueschler, F. Turner, Weldon, Wood, and Zirkin
Entitled:
Taking Care of Our Own - Income Tax Credit for Purchase of Life Insurance for Active Duty Military

Synopsis:

Allowing an individual or corporation a credit against the State income tax for 50% of the costs incurred to purchase a $250,000 life insurance policy for an individual who is a resident of the State and is in the active military, naval, or air service of the United States in an area designated as a combat zone by the President of the United States; and applying the Act to tax years after 2005.

History by Legislative Date

House Action
2/8
First Reading Ways and Means
3/1
Hearing 3/21 at 1:00 p.m.
Senate Action
No Action

Sponsored by:

Delegate Jean B. Cryor, District 15
Delegate Charles Barkley, District 39
Delegate Joseph R. Bartlett, District 4A
Delegate John L. Bohanan, Jr., District 29B
Delegate David G. Boschert, District 33A
Delegate Eric M. Bromwell, District 8
Delegate William A. Bronrott, District 16
Delegate Joan Cadden, District 31
Delegate Kathleen M. Dumais, District 15
Delegate Donald H. Dwyer, Jr., District 31
Delegate George C. Edwards, District 1A
Delegate D. Page Elmore, District 38A
Delegate Brian J. Feldman, District 15
Delegate William J. Frank, District 42
Delegate Terry R. Gilleland, Jr., District 32
Delegate Barry Glassman, District 35A
Delegate Ana Sol Gutierrez, District 18
Delegate Patrick N. Hogan, District 3A
Delegate Sally Jameson, District 28
Delegate Wade Kach, District 5B
Delegate Anne R. Kaiser, District 14
Delegate Kevin Kelly, District 1B
Delegate Sheryl Davis Kohl, District 34A
Delegate Jane E. Lawton, District 18
Delegate John R. Leopold, District 31
Delegate Mary Ann E. Love, District 32
Delegate Adrienne A. Mandel, District 19
Delegate Pat McDonough, District 7
Delegate Brian K. McHale, District 46
Delegate Dan K. Morhaim, District 11
Delegate LeRoy E. Myers, Jr., District 1C
Delegate Anthony J. O'Donnell, District 29C
Delegate Neil F. Quinter, District 13
Delegate David D. Rudolph, District 34B
Delegate Tanya T. Shewell, District 5A
Delegate Michael D. Smigiel, Sr., District 36
Delegate Richard A. Sossi, District 36
Delegate Nancy R. Stocksdale, District 5A
Delegate Paul S. Stull, District 4A
Delegate John G. Trueschler, District 42
Delegate Frank S. Turner, District 13
Delegate Richard B. Weldon, Jr., District 3B
Delegate John F. Wood, Jr., District 29A
Delegate Bobby A. Zirkin, District 11

Bill indexed under the following Subjects:

ARMED FORCES -see also- MILITIA
INCOME TAX
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statute:

Tax - General
( 10-726 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments: None offered