Daily Press: Money given to Virginia Beach victim fund would be tax deductible under Luria’s bill
Money Given to Virginia Beach victim fund would be tax deductible under Luria's bill
December 9, 2019 | By Dave Ress
The House of Representatives passed a bill Monday to make sure donations to the fund for families of those killed or wounded in the May 31 Virginia Beach mass shooting are tax deductible.
The bill, introduced by Rep. Elaine Luria, D-Norfolk, addresses one loophole in federal tax law that says cash donations ordinarily can’t be treated as charitable contributions if intended for the exclusive use of a family.
It also addresses another that says payments by charitable organizations for the benefit of individuals, like the spouses or dependents of victims of the shooting, are ordinarily not exempt from tax.
Her bill says those sections of the Internal Revenue Code don’t apply to the fund the city set up for the families.
"During our great city’s darkest hour, we showed the world the strength and resolve that makes us Virginia Beach Strong," Luria told the House.
“Today, many families of the victims are still facing financial hardships related to the shooting, in addition to the unfathomable loss of a loved one,” she added.
“In the aftermath of May 31, the City of Virginia Beach established a fund to help victims, survivors, and their families. Unfortunately, a technicality in the tax code means that these donations will likely not be considered tax-deductible. That’s why I introduced the bipartisan Virginia Beach Strong Act.”
Reps. Robert C. “Bobby” Scott, D-Newport News; Don McEachin, D-Henrico; Rob Wittman, R-Westmoreland; Abigail Spannberger, D-Henrico; Don Beyer, D-Alexandria; Gerry Connolly, D-Fairfax; Jennifer Wexton, D-Loudoun; and Denver Riggleman, R-Nelson, co-sponsored the bill.
The bill passed the House on a voice vote and now goes to the Senate.