Virginia House Bill 60 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on December 3 2015 - 25% progression, died in committee
Action: 2016-02-08 - Continued to 2017 in Finance by voice vote
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Income tax subtraction for National Guard pay. Increases from $3,000 to $5,000 the maximum individual income tax subtraction for National Guard pay. Under current law, the annual subtraction for wages or salary received for service in the National Guard of the Commonwealth of Virginia is the lesser of $3,000 or the amount of income derived by the person from 39 calendar days of such service. Under this bill, the subtraction is the lesser of $5,000 or the amount of income derived from 39 calendar days of National Guard service. The income tax subtraction will continue to be available only to persons in the ranks of O3 and below. The provisions of the bill apply to taxable years beginning on or after January 1, 2016.

Income tax, state; subtraction for National Guard pay.

Del. Hyland Fowler [R]

Del. Christopher Peace [R]

Del. Marcus Simon [D]

Date	Chamber	Action
2016-02-08	House	Continued to 2017 in Finance by voice vote
2016-02-03	House	Subcommittee recommends continuing to 2017 by voice vote
2016-02-02	House	Assigned Finance sub: Subcommittee #1
2015-12-03	House	Referred to Committee on Finance
2015-12-03	House	Prefiled and ordered printed; offered 01/13/16 16100312D

Chapter	Article	Section	Citation Type	Statute Text
58	1	322	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?161+sum+HB60
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+HB60+hil