HB0455

Find a 2016 Bill:

2016 Regular Session

 

Entitled:

Income Tax Exemption Amount - Elderly Individuals

Sponsored by:

Speaker

Status:

In the House - Hearing 2/25 at 1:00 p.m.


Synopsis:Increasing, from $1,000 to $5,000, the exemption allowed under the State income tax for an individual that is not a fiduciary and is at least 65 years old on the last day of a taxable year; phasing in the increase over 4 taxable years; etc.
Analysis:Fiscal and Policy Note
All Sponsors:The Speaker (By Request - Administration) and Delegates Adams, Afzali, Anderton, Arentz, Aumann, Beitzel, Buckel, Carozza, Cassilly, Ciliberti, Cluster, Fisher, Flanagan, Folden, Ghrist, Glass, Grammer, Hornberger, S. Howard, Impallaria, Jacobs, Kipke, Kittleman, Krebs, Long, Malone, Mautz, McComas, McConkey, McDonough, McKay, McMillan, Metzgar, Miele, W. Miller, Morgan, O'Donnell, Otto, Parrott, Reilly, Rose, Saab, Shoemaker, Simonaire, Szeliga, Vogt, West, B. Wilson, and Wivell
Additional Facts:Cross-filed with: SB0387
Bill File Type: Regular
Effective Date(s): July 1, 2016
By Request of the Governor
Committee(s):
Ways and Means  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Elderly Persons
Exemptions
Income Tax
Statutes:Article - Tax - General
(10-211)

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February 26, 2016 12:03 P.M.