VirginiaEarned income tax credit.
What it does
Earned income tax credit. Allows eligible low-income taxpayers to claim a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the taxpayer for the same taxable year. The bill also states that individuals who would have been entitled to the federal equivalent of this credit but for the fact that the individual, the individual's spouse, or one or more of the individual's children does not have a valid social security number are eligible to claim this credit.
More detail
Under current law, taxpayers may choose to claim either a nonrefundable tax credit equal to 20 percent of the federal earned income tax credit claimed that year or a refundable tax credit equal to 15 percent of the federal earned income tax credit claimed that year.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 4Left in AppropriationsLatest
- Jan 29Committee substitute printed 25105847D-H1Major
- Vote recorded Reported from Finance with substitute and rereferred to Appropriations (12-Y 10-N). Result: pass.Lower
- Jan 29Reported from Finance with substitute and referred to Appropriations (12-Y 10-N)Minor
- Jan 27Subcommittee recommends reporting with substitute and referring to Appropriations (5-Y 3-N)Major
- Vote recorded Subcommittee recommends reporting with substitute and rereferred to Appropriations (5-Y 3-N). Result: pass.Lower
- Jan 24Assigned Finance sub: Subcommittee #3Minor
- Jan 19Impact statement from TAX (HB1717)
- Jan 4Referred to Committee on FinanceMinor
- Jan 4Prefiled and ordered printed; Offered 01-13-2025 25101989DIntroduced