VA HB230 | 2020 | Regular Session

Status

Spectrum: Moderate Partisan Bill (Republican 33-5)
Status: Introduced on December 28 2019 - 25% progression, died in chamber
Action: 2020-01-29 - Incorporated by Finance
Text: Latest bill text (Prefiled) [HTML]

Summary

Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2020 through 2024 a nonrefundable tax credit against individual and corporate income taxes for (i) wages paid by an employer to an employee who is a Virginia National Guard member or (ii) income of a self-employed National Guard member attributable to his business. The amount of the credit shall be 25 percent if such member was in a military pay status for 65 days or more during such taxable year or 15 percent if such member was in a military pay status for 45 days or more during such taxable year. The credit shall not be allowed if such member was in a military pay status for less than 45 days during such taxable year.

Tracking Information

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Title

Income tax, state and corporate; tax credit for employers of National Guard members.

Sponsors


History

DateChamberAction
2020-01-29HouseIncorporated by Finance
2020-01-27HouseSubcommittee recommends incorporating (HB1620-Helmer) by voice vote
2020-01-23HouseAssigned Finance sub: Subcommittee #1
2019-12-28HouseReferred to Committee on Finance
2019-12-28HousePrefiled and ordered printed; offered 01/08/20 20101748D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581339.13(n/a)See Bill Text

Virginia State Sources


Bill Comments

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