VA HB5002 | 2020 | 1st Special Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 30 2020 - 25% progression
Action: 2020-07-30 - Committee Referral Pending
Text: Latest bill text (Prefiled) [HTML]

Summary

Income tax subtraction for Paycheck Protection Plan loan forgiveness. Establishes an income tax subtraction for forgiveness of indebtedness on a loan received under the Coronavirus Aid, Relief, and Economic Security (CARES) Act through the Paycheck Protection Plan. The subtraction would be available starting in taxable year 2020.

Tracking Information

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Title

Income tax, state; subtraction for Paycheck Protection Plan loan forgiveness.

Sponsors


History

DateChamberAction
2020-07-30HouseCommittee Referral Pending
2020-07-30HousePrefiled and ordered printed; offered 08/18/20 20200137D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581322.02(n/a)See Bill Text

Virginia State Sources


Bill Comments

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