As expected, the Senate Finance Committee today unanimously reported HB 40 out of committee with the limited, or partial, repeal of the death tax substitute. Delegate Bob Tata, patron of the original HB 40, was present to speak on behalf of his legislation calling for full repeal of the estate tax, not just repeal for a select few. Before the amendment was reported, Senate Finance Committee Chairman John Chichester commented that this matter would likely be worked out during conference committee. HB 40 could receive a floor vote by the Senate as early as tomorrow.

Similar legislation proposed by Senator Tommy Norment (SB 504) was amended back to its original form by the House Finance Committee -- calling for full repeal on January 1, 2007 -- will be voted on by the House of Delegates tomorrow.

Both bills will likely be referred to conference committee where members of both chambers will work to iron out differences, hopefully in favor of full repeal.

The Conference Committees are slated by the calendar of the General Assembly to complete their work by Monday, March 6.

Once members of the Conference Committee on death tax repeal are appointed we will provide you their contact information. (For more information on "Conference Committees", see below*).

Fredericksburg Free Lance Star Endorses Full Death Tax Repeal Over Partial

Editorial, Free Lance Star, 2/28/06

Virginia legislators should cleanly kill the unfair estate tax

TAX-HUNGRY POLITICIANS thought they'd found an easy mark. Dead people, they discovered, don't mind being taxed twice. And so, the infamous "estate" tax was born. Having paid a levy once when their money was income, the dead (or, more accurately, their estates) were required to ante up again--sometimes as much as 16 percent for the privilege of being six feet under. Now that could change, and not a moment too soon. For the death tax is not only unfair, it's counterproductive. Read more

When the House and Senate pass different versions of the same legislation, the resolution is usually found through a Committee of Conference. The Speaker will appoint three Delegates and the Senate will appoint three Senators. It is typical for there to be two Republicans and one Democrat from each the House and the Senate. It is also customary that the patrons of the bills serve on this committee, so we expect Senator Norment and Delegate Tata to be appointed to the conference committee for these bills.

The conference committee does not "meet" typically, but members will discuss amongst themselves on the phone, via email, or in offices or in the hallways even what kind of compromise is possible. If two Senators and two Delegates agree to a compromise position, which could include agreement to support full repeal of the death tax, then the full Senate and full House will vote on the measure.

It will be important later this week for you to email, visit or call members of the conference committee once they are appointed -- to let them know your support for fully repealing the death tax.