VA HB106 | 2022 | Regular Session
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 7 2022 - 25% progression, died in committee
Action: 2022-02-15 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 7 2022 - 25% progression, died in committee
Action: 2022-02-15 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Income tax; rolling conformity; report. Provides that, beginning with taxable year 2022, Virginia shall generally conform to federal tax laws on a rolling basis, meaning that Virginia tax laws incorporate changes to the Internal Revenue Code as soon as Congress enacts them. However, the bill provides that Virginia shall not conform to (i) any changes in a single act of Congress with an impact of more than 0.3 percent on revenues in the year in which the amendment was enacted or any of the next four years and (ii) all changes enacted by Congress during the taxable year if their aggregate impact is more than 0.6 percent on the revenues for that year or any of the next four years.
Title
Income tax, state; rolling conformity, report.
Sponsors
Roll Calls
2022-02-04 - House - House: Subcommittee recommends laying on the table (5-Y 3-N) (Y: 5 N: 3 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-02-15 | House | Left in Finance |
| 2022-02-04 | House | Subcommittee recommends laying on the table (5-Y 3-N) |
| 2022-02-02 | House | Assigned Finance sub: Subcommittee #3 |
| 2022-01-07 | House | Referred to Committee on Finance |
| 2022-01-07 | House | Prefiled and ordered printed; offered 01/12/22 22103395D |
