Bill making VB Tragedy Fund donations tax-deductible becomes first signed into law in 2020

News

RICHMOND, Va. (WAVY) — Virginia Gov. Ralph Northam has signed the first bill of 2020 into law — and it will make donations to the Virginia Beach Tragedy Fund tax-deductible.

The bill is Sen. Janet Howell’s Senate Bill 582, and is the first signed by Northam this year.

To bill changes Virginia’s tax code to conform to the federal code. It was passed by the Senate Jan. 24 then the House of Delegates Feb. 3.

It also means donations to Virginia Beach Tragedy Fund are tax-deductible.

“Looking forward to signing more important bills from our legislature,” Northam tweeted.

The Virginia Beach Tragedy Fund was set up by the United Way of South Hampton Roads. According to the fundraising page, 100 percent of the donations go to the victims affected by the May 31 mass shooting that killed 12 people at the Virginia Beach Municipal Center Building 2.

The fund will remain open as long as it is actively receiving donations.

Last year, Northam urged the IRS to change its tax code to make the donations tax-deductible.

In a statement released on July 16, Northam addressed the fund as an essential assistance for those affected by the shooting.

Back in June, the IRS confirmed all gifts to the victims’ families and those injured are tax free for them, but not for the thousands contributing cash to the fund, which had more than $3 million by July 2019.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories