VA HB1224 | 2016 | Regular Session


Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 20 2016 - 100% progression
Action: 2016-04-20 - Governor: Acts of Assembly Chapter text (CHAP0755)
Text: Latest bill text (Chaptered) [HTML]


Bank franchise tax. Sets a cap of $18 million on the total annual bank franchise tax liability per taxpayer. The cap will increase to $20 million if at least five taxpayers pay the $18 million cap for three consecutive years. After two years at $20 million, the cap will increase by three percent annually.

Tracking Information

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Bank franchise tax; sets a cap of $18 million on total annual tax liability per taxpayer.


Roll Calls

2016-04-20 - Senate - Senate: Senate concurred in Governor's recommendation (37-Y 2-N) (Y: 37 N: 2 NV: 0 Abs: 0) [PASS]
2016-04-20 - House - House: VOTE: ADOPTION (92-Y 5-N) (Y: 94 N: 6 NV: 3 Abs: 0) [PASS]
2016-02-25 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-24 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2016-02-23 - Senate - Senate: Reported from Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-04 - House - House: VOTE: PASSAGE (95-Y 3-N) (Y: 98 N: 3 NV: 2 Abs: 0) [PASS]
2016-02-01 - House - House: Reported from Finance with amendment (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2016-01-27 - House - House: Subcommittee recommends reporting with amendment(s) (9-Y 0-N) (Y: 9 N: 0 NV: 1 Abs: 0) [PASS]


2016-04-20 Governor: Acts of Assembly Chapter text (CHAP0755)
2016-04-20HouseEnacted, Chapter 755 (effective 7/1/16)
2016-04-20SenateSigned by President as reenrolled
2016-04-20HouseSigned by Speaker as reenrolled
2016-04-20HouseReenrolled bill text (HB1224ER2)
2016-04-20 Governor: Governor's recommendation adopted
2016-04-20SenateSenate concurred in Governor's recommendation (37-Y 2-N)
2016-04-20HouseVOTE: ADOPTION (92-Y 5-N)
2016-04-20HouseHouse concurred in Governor's recommendation (92-Y 5-N)
2016-04-20HousePlaced on Calendar
2016-03-11HouseGovernor's recommendation received by House
2016-03-04 Governor: Governor's Action Deadline Midnight, March 11, 2016
2016-03-04HouseEnrolled Bill communicated to Governor on 3/4/16
2016-03-03SenateSigned by President
2016-02-29HouseSigned by Speaker
2016-02-29HouseBill text as passed House and Senate (HB1224ER)
2016-02-25SenatePassed Senate (40-Y 0-N)
2016-02-25SenateRead third time
2016-02-24SenateConstitutional reading dispensed (39-Y 0-N)
2016-02-23SenateReported from Finance (15-Y 0-N)
2016-02-05SenateReferred to Committee on Finance
2016-02-05SenateConstitutional reading dispensed
2016-02-04HouseVOTE: PASSAGE (95-Y 3-N)
2016-02-04HouseRead third time and passed House (95-Y 3-N)
2016-02-03HousePrinted as engrossed 16103959D-E
2016-02-03HouseEngrossed by House as amended HB1224E
2016-02-03HouseCommittee amendment agreed to
2016-02-03HouseRead second time
2016-02-02HouseRead first time
2016-02-01HouseReported from Finance with amendment (22-Y 0-N)
2016-01-27HouseSubcommittee recommends reporting with amendment(s) (9-Y 0-N)
2016-01-26HouseAssigned Finance sub: Subcommittee #1
2016-01-19HouseReferred to Committee on Finance
2016-01-19HousePresented and ordered printed 16103959D

Same As/Similar To

SB670 (Same As) 2016-03-10 - Governor: Acts of Assembly Chapter text (CHAP0325)

Code Citations

ChapterArticleSectionCitation TypeStatute Text
5811204(n/a)See Bill Text

Virginia State Sources

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Bill Comments