VirginiaChild tax credit; Virginia adjusted gross income.
What it does
Child tax credit; Virginia adjusted gross income. Creates a one-time individual income tax credit in taxable years 2025 through 2029 for taxpayers whose households include dependents younger than 13 years of age and whose family Virginia adjusted gross income, defined in the bill, does not exceed $100,000. Such credit shall be in an amount equal to $300 for each such dependent and only one credit may be claimed for each such dependent.
More detail
The bill provides that if the taxpayer is a resident of the Commonwealth for the full taxable year, the credit is refundable. Otherwise, the credit is nonrefundable.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jan 28Passed by indefinitely in Finance and Appropriations (15-Y 0-N)Latest
- Vote recorded Passed by indefinitely in Finance and Appropriations (15-Y 0-N). Result: pass.Upper
- Jan 26Impact statement from TAX (SB1378)
- Jan 13Referred to Committee on Finance and AppropriationsMinor
- Jan 13Prefiled and ordered printed; Offered 01-13-2025 25104711DIntroduced
- Jan 28Passed by indefinitely in Finance and Appropriations (15-Y 0-N)Latest