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The clipping this text was read from
The clipping this text was read from

of 100 million dollars in Fiscal ‘07.

“ . .for budgeting purposes, it is important that the program’s fiscal impact be predictable,” said Governor Tim Kaine in a statement after the passing of HB5019. Future increases in the size of this cap will be tied to inflation based on the consumer price index. The bill also lowers the percentage discount afforded by the credits, from 50 percent to 40 percent of fair market value.

The elimination of Virginia’s estate tax, which affected estates of $2 million dollars or more will take effect on July 1, 2007.

93.1%