Virginia House Bill 716 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 9-0)
Status: Introduced on January 9 2018 - 25% progression, died in committee
Action: 2018-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Refundable income tax credit for low-income taxpayers. Allows low-income individuals and married persons to claim a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed by the individual or married persons for the year in lieu of the current options available for claiming the credit. Under current law, low-income individuals and married persons may claim (i) a nonrefundable income tax credit equal to $300 for each individual, his spouse, and any dependents or (ii) a nonrefundable income tax credit equal to 20 percent of the federal earned income tax credit claimed by the individual or married persons for the year. The provisions of the bill apply to taxable years beginning on and after January 1, 2018.

Low-income taxpayers; refundable income tax credit.

Del. Kenneth Plum [D]	Sen. Jennifer Boysko [D]	Del. Kelly Convirs-Fowler [D]	Del. Wendy Gooditis [D]
Del. Patrick Hope [D]	Del. Paul Krizek [D]	Del. Sam Rasoul [D]	Del. Marcus Simon [D]
Del. Roslyn Tyler [D]

Date	Chamber	Action
2018-02-13	House	Left in Finance
2018-01-31	House	Subcommittee recommends continuing to 2019 by voice vote
2018-01-30	House	Assigned Finance sub: Subcommittee #2
2018-01-09	House	Referred to Committee on Finance
2018-01-09	House	Prefiled and ordered printed; offered 01/10/18 18102327D

Chapter	Article	Section	Citation Type	Statute Text
58	1	339.8	(n/a)	See Bill Text
63	2	527	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+HB716
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+HB716+hil