VA HB365 | 2018 | Regular Session
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on April 18 2018 - 100% progression
Action: 2018-04-18 - Governor: Acts of Assembly Chapter text (CHAP0821)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on April 18 2018 - 100% progression
Action: 2018-04-18 - Governor: Acts of Assembly Chapter text (CHAP0821)
Text: Latest bill text (Chaptered) [HTML]
Summary
Income tax subtraction; Virginia real estate investment trust income. Establishes an individual and corporate income tax subtraction for income attributable to an investment in a Virginia real estate investment trust, defined in the bill as an investment fund that is certified by the Department of Taxation as investing at least 90 percent of trust funds in Virginia and at least 40 percent of trust funds in localities that are either distressed or double distressed. The bill defines a distressed locality as one where the unemployment rate is greater than the statewide average or the poverty rate exceeds the statewide average. The bill defines a double distressed locality as one that satisfies both of the preceding criteria. An income tax subtraction would be available only for an investment made on or after January 1, 2019, but before December 31, 2024.
Title
Income tax, state and corporate; subtraction for Virginia real estate investment trust income.
Sponsors
Roll Calls
2018-04-18 - Senate - Senate: Senate concurred in Governor's recommendation (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2018-04-18 - Senate - Senate: Reconsideration of Governor's recommendation agreed to (38-Y 0-N 1-A) (Y: 38 N: 0 NV: 1 Abs: 1) [PASS]
2018-04-18 - Senate - Senate: Senate concurred in Governor's recommendation (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2018-04-18 - House - House: VOTE: ADOPTION (99-Y 0-N) (Y: 99 N: 0 NV: 1 Abs: 0) [PASS]
2018-02-28 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-28 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-27 - Senate - Senate: Reported from Finance (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-02 - House - House: VOTE: PASSAGE (97-Y 0-N) (Y: 97 N: 0 NV: 3 Abs: 0) [PASS]
2018-01-29 - House - House: Reported from Finance with amendments (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2018-01-24 - House - House: Subcommittee recommends reporting with amendment (7-Y 1-N) (Y: 7 N: 1 NV: 1 Abs: 0) [PASS]
2018-04-18 - Senate - Senate: Reconsideration of Governor's recommendation agreed to (38-Y 0-N 1-A) (Y: 38 N: 0 NV: 1 Abs: 1) [PASS]
2018-04-18 - Senate - Senate: Senate concurred in Governor's recommendation (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2018-04-18 - House - House: VOTE: ADOPTION (99-Y 0-N) (Y: 99 N: 0 NV: 1 Abs: 0) [PASS]
2018-02-28 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-28 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-27 - Senate - Senate: Reported from Finance (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
2018-02-02 - House - House: VOTE: PASSAGE (97-Y 0-N) (Y: 97 N: 0 NV: 3 Abs: 0) [PASS]
2018-01-29 - House - House: Reported from Finance with amendments (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2018-01-24 - House - House: Subcommittee recommends reporting with amendment (7-Y 1-N) (Y: 7 N: 1 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2018-04-18 | Governor: Acts of Assembly Chapter text (CHAP0821) | |
| 2018-04-18 | House | Enacted, Chapter 821 (effective 7/1/18) |
| 2018-04-18 | Senate | Signed by President as reenrolled |
| 2018-04-18 | House | Signed by Speaker as reenrolled |
| 2018-04-18 | House | Reenrolled bill text (HB365ER2) |
| 2018-04-18 | House | Reenrolled |
| 2018-04-18 | Governor: Governor's recommendation adopted | |
| 2018-04-18 | Senate | Senate concurred in Governor's recommendation (39-Y 0-N) |
| 2018-04-18 | Senate | Reconsideration of Governor's recommendation agreed to (38-Y 0-N 1-A) |
| 2018-04-18 | Senate | Senate concurred in Governor's recommendation (39-Y 0-N) |
| 2018-04-18 | House | VOTE: ADOPTION (99-Y 0-N) |
| 2018-04-18 | House | House concurred in Governor's recommendation (99-Y 0-N) |
| 2018-04-09 | House | Governor's recommendation received by House |
| 2018-03-07 | Governor: Governor's Action Deadline Midnight, April 9, 2018 | |
| 2018-03-07 | House | Enrolled Bill communicated to Governor on March 7, 2018 |
| 2018-03-03 | Senate | Signed by President |
| 2018-03-01 | House | Signed by Speaker |
| 2018-03-01 | House | Bill text as passed House and Senate (HB365ER) |
| 2018-03-01 | House | Enrolled |
| 2018-02-28 | Senate | Passed Senate (40-Y 0-N) |
| 2018-02-28 | Senate | Read third time |
| 2018-02-28 | Senate | Constitutional reading dispensed (40-Y 0-N) |
| 2018-02-27 | Senate | Reported from Finance (16-Y 0-N) |
| 2018-02-05 | Senate | Referred to Committee on Finance |
| 2018-02-05 | Senate | Constitutional reading dispensed |
| 2018-02-02 | House | VOTE: PASSAGE (97-Y 0-N) |
| 2018-02-02 | House | Read third time and passed House (97-Y 0-N) |
| 2018-02-01 | House | Printed as engrossed 18103580D-E |
| 2018-02-01 | House | Engrossed by House as amended HB365E |
| 2018-02-01 | House | Committee amendments agreed to |
| 2018-02-01 | House | Read second time |
| 2018-01-31 | House | Read first time |
| 2018-01-29 | House | Reported from Finance with amendments (22-Y 0-N) |
| 2018-01-24 | House | Subcommittee recommends reporting with amendment (7-Y 1-N) |
| 2018-01-23 | House | Assigned Finance sub: Subcommittee #2 |
| 2018-01-05 | House | Referred to Committee on Finance |
| 2018-01-05 | House | Prefiled and ordered printed; offered 01/10/18 18103580D |
