Virginia House Bill 1159 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2024 - 25% progression, died in committee
Action: 2024-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Individual income tax; distribution of revenues; local school construction. Requires distribution of one percent of the individual income tax revenues collected from residents of a locality to be distributed to that locality. The bill requires such funds to be used for school construction or renovation purposes and to be repaid to the state if used for any other purpose. The bill provides that a locality shall be required to maintain its level of expenditure for public school purposes as a condition of receiving the income tax revenues; however, a locality may reduce its level of expenditure to account for a loss of revenues resulting from a reduction in machinery and tools taxes or license taxes.

Income tax, state; distribution of revenues to localities, funds for local school construction.

Del. Mark Sickles [D]

Date	Chamber	Action
2024-02-13	House	Left in Finance
2024-02-05	House	Subcommittee recommends incorporating (HB805-Rasoul) by voice vote
2024-02-02	House	Assigned Finance sub: Subcommittee #3
2024-01-10	House	Referred to Committee on Finance
2024-01-10	House	Prefiled and ordered printed; offered 01/10/24 24103242D

Chapter	Article	Section	Citation Type	Statute Text
58	1	320.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+HB1159
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB1159+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?241+oth+HB1159F161+PDF