RICHMOND — A bill sponsored by Del. Scott Garrett, R-Lynchburg, that would double the tax credit Virginia gives to people who buy long-term care insurance policies came back to life in a House of Dele-gates committee Wednesday.
The House Finance Committee approved HB 1050 unanimously, even though it would cost the state $1.2 million a year in lost revenue. Garrett offered to amend the bill so the credit wouldn’t take effect until 2012, but the committee rejected the amendment.
Instead, it referred the bill to the House Appropriations committee, which is evaluating every piece of legislation that could affect revenues.
Earlier this week, a three-member subcommittee had recommended against reporting the bill. Members decided to take it up on the full committee anyway, partly because it is part of Gov. Bob McDonnell’s legis-lative package.
The action now means Garrett has two bills still alive.
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