VirginiaIncome tax, state; conformity to Internal Revenue Code.
What it does
Income tax; rolling conformity. Provides that when Virginia does not conform on a rolling basis to federal tax laws due to any changes in a single act of Congress with an impact of more than $15 million on revenues in the year in which the amendment was enacted or any of the next four years, such nonconformity shall not be considered for purposes of calculating the nonconformity threshold for all amendments in a year with a cumulative projected impact of more than $75 million in the year in which the amendments were enacted or any of the next four years.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2024
- Nov 19Left in Finance and AppropriationsLatest
- Feb 27Continued to 2025 in Finance and Appropriations (15-Y 0-N)
- Vote recorded S Continued to 2025 in Finance and Appropriations. Result: pass.Upper
- Feb 18Impact statement from TAX (HB261E)
- Feb 14Referred to Committee on Finance and AppropriationsMinor
- Feb 14Constitutional reading dispensed (on 1st reading)
- Feb 13VOTE: Block Vote Passage (99-Y 0-N)Passed Senate
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 13Read third time and passed House BLOCK VOTE (99-Y 0-N)Passed House
- Feb 12Printed as engrossed 24101430D-E
- Feb 12Engrossed by House as amended HB261E
- Feb 12Committee amendment agreed toMajor
- Feb 12Read second timeMinor
- Feb 9Read first timeMinor
- Feb 7Reported from Finance with amendment(s) (21-Y 0-N)Minor
- Vote recorded Reported with amendments. Result: pass.Lower
- Jan 14Impact statement from TAX (HB261)
- Jan 5Referred to Committee on FinanceMinor
- Jan 5Prefiled and ordered printed; offered 01/10/24 24101430DIntroduced