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Legislation


2005 Regular Session

HOUSE BILL 1253

File Code: Taxes - Income
Sponsored By:
Delegates Cryor, Anderson, Bates, Bohanan, Boschert, Cadden, Dumais, Dwyer, Eckardt, Edwards, Feldman, Goldwater, Gutierrez, Hogan, Howard, James, Jennings, Leopold, Levy, Mandel, Mayer, McComas, McDonough, Minnick, Montgomery, Myers, Patterson, Shewell, Simmons, Smigiel, Sossi, Trueschler, Walkup, and Weldon
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 2004.

History by Legislative Date

House Action
2/11
First Reading Ways and Means
2/15
Hearing 2/22 at 1:00 p.m.
Senate Action
No Action

Sponsored by:

Delegate Jean B. Cryor, District 15
Delegate Curt Anderson, District 43
Delegate Gail H. Bates, District 9A
Delegate John L. Bohanan, Jr., District 29B
Delegate David G. Boschert, District 33A
Delegate Joan Cadden, District 31
Delegate Kathleen M. Dumais, District 15
Delegate Donald H. Dwyer, Jr., District 31
Delegate Adelaide C. Eckardt, District 37B
Delegate George C. Edwards, District 1A
Delegate Brian J. Feldman, District 15
Delegate Marilyn R. Goldwater, District 16
Delegate Ana Sol Gutierrez, District 18
Delegate Patrick N. Hogan, District 3A
Delegate Carolyn J. B. Howard, District 24
Delegate Mary-Dulany James, District 34A
Delegate J. B. Jennings, District 7
Delegate John R. Leopold, District 31
Delegate Murray D. Levy, District 28
Delegate Adrienne A. Mandel, District 19
Delegate William D. Mayer, District 35B
Delegate Susan K. McComas, District 35B
Delegate Pat McDonough, District 7
Delegate Joseph J. Minnick, District 6
Delegate Karen S. Montgomery, District 14
Delegate LeRoy E. Myers, Jr., District 1C
Delegate Obie Patterson, District 26
Delegate Tanya T. Shewell, District 5A
Delegate Luiz R. S. Simmons, District 17
Delegate Michael D. Smigiel, Sr., District 36
Delegate Richard A. Sossi, District 36
Delegate John G. Trueschler, District 42
Delegate Mary Roe Walkup, District 36
Delegate Richard B. Weldon, Jr., District 3B

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
( 10-725 )

Documents:

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