VA HB95 | 2016 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 11 2016 - 100% progression
Action: 2016-03-11 - Governor: Acts of Assembly Chapter text (CHAP0342)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 11 2016 - 100% progression
Action: 2016-03-11 - Governor: Acts of Assembly Chapter text (CHAP0342)
Text: Latest bill text (Chaptered) [HTML]
Summary
Corporate income tax; addback for Captive REIT dividends. Provides that the voting power or value of the beneficial interests or shares in a real estate investment trust (REIT) that is held in a segregated asset account of a life insurance corporation shall not be taken into consideration when determining if the REIT is a Captive REIT for corporate income tax purposes. Under current law, no deduction from corporate income is allowed for dividends paid by a Captive REIT. The bill modifies current law for purposes of determining whether a REIT is a Captive REIT that will not be allowed a deduction for the dividends it pays. The bill is effective for taxable year 2016 and thereafter.
Title
Income tax, corporate; addback for Captive REIT dividends.
Sponsors
| Del. Lee Ware [R] |
Roll Calls
2016-02-25 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-24 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2016-02-23 - Senate - Senate: Reported from Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-04 - House - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (Y: 101 N: 0 NV: 2 Abs: 0) [PASS]
2016-02-01 - House - House: Reported from Finance (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2016-01-27 - House - House: Subcommittee recommends reporting (9-Y 0-N) (Y: 9 N: 0 NV: 1 Abs: 0) [PASS]
2016-02-24 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2016-02-23 - Senate - Senate: Reported from Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-04 - House - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (Y: 101 N: 0 NV: 2 Abs: 0) [PASS]
2016-02-01 - House - House: Reported from Finance (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2016-01-27 - House - House: Subcommittee recommends reporting (9-Y 0-N) (Y: 9 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2016-03-11 | Governor: Acts of Assembly Chapter text (CHAP0342) | |
| 2016-03-11 | Governor: Approved by Governor-Chapter 342 (effective 7/1/16) | |
| 2016-03-04 | Governor: Governor's Action Deadline Midnight, March 11, 2016 | |
| 2016-03-04 | House | Enrolled Bill communicated to Governor on 3/4/16 |
| 2016-03-03 | Senate | Signed by President |
| 2016-02-29 | House | Signed by Speaker |
| 2016-02-29 | House | Bill text as passed House and Senate (HB95ER) |
| 2016-02-29 | House | Enrolled |
| 2016-02-25 | Senate | Passed Senate (40-Y 0-N) |
| 2016-02-25 | Senate | Read third time |
| 2016-02-24 | Senate | Constitutional reading dispensed (39-Y 0-N) |
| 2016-02-23 | Senate | Reported from Finance (15-Y 0-N) |
| 2016-02-05 | Senate | Referred to Committee on Finance |
| 2016-02-05 | Senate | Constitutional reading dispensed |
| 2016-02-04 | House | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) |
| 2016-02-04 | House | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
| 2016-02-03 | House | Read second time and engrossed |
| 2016-02-02 | House | Read first time |
| 2016-02-01 | House | Reported from Finance (22-Y 0-N) |
| 2016-01-27 | House | Subcommittee recommends reporting (9-Y 0-N) |
| 2016-01-15 | House | Assigned Finance sub: Subcommittee #1 |
| 2015-12-13 | House | Referred to Committee on Finance |
| 2015-12-13 | House | Prefiled and ordered printed; offered 01/13/16 16100433D |
