VirginiaIncome tax, state; toll charges for disabled veterans tax credit.
What it does
Income tax; toll charges for disabled veterans tax credit. Creates a nonrefundable income tax credit for taxable years 2025 through 2029 for expenses incurred during the taxable year by a disabled veteran, defined in the bill, for documented toll charges, also defined in the bill. The amount of the credit shall be equal to the lesser of the documented toll charges or $100.
More detail
The bill requires the Tax Commissioner to establish guidelines for claiming the credit and provides that any unused credit may be carried forward by the taxpayer for five taxable years following the taxable year for which the credit was issued.
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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 FinanceLatest
- Jan 28Subcommittee recommends laying on the table (5-Y 2-N)
- Vote recorded Subcommittee recommends laying on the table (5-Y 2-N). Result: pass.Lower
- Jan 26Impact statement from TAX (HB2707)
- Jan 24Assigned Finance sub: Subcommittee #2Minor
- Jan 16Referred to Committee on FinanceMinor
- Jan 16Presented and ordered printed 25103056DIntroduced