VirginiaChild tax credit; creates a credit for taxable years 2024 through 2028.
What it does
Child tax credit. Creates a tax credit for taxable years 2024 through 2028 for individuals whose households include dependents younger than the age of 18. The bill provides that the amount of the credit will be equal to $500 for each such dependent for an individual or married persons filing a joint return whose family Virginia adjusted gross income, as defined by Virginia code, does not exceed $100,000.
More detail
The bill provides that if the taxpayer is a resident of the Commonwealth for the full taxable year, and the amount of such credit exceeds the taxpayer's liability for the taxable year, the excess shall be refunded by the Tax Commissioner.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2024
- Nov 18Left in FinanceLatest
- Feb 7Continued to 2025 in Finance (Voice Vote)
- Feb 5Subcommittee recommends continuing to 2025 (7-Y 0-N)
- Vote recorded Continued to 2025 in Finance. Result: pass.Lower
- Feb 2Impact statement from TAX (HB969)
- Feb 2Assigned Finance sub: Subcommittee #3Minor
- Jan 9Referred to Committee on FinanceMinor
- Jan 9Prefiled and ordered printed; offered 01/10/24 24100763DIntroduced