Virginia House Bill 95 (Prior Session Legislation)

---

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]

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.

Income tax, corporate; addback for Captive REIT dividends.

Del. Lee Ware [R]

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]

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

Chapter	Article	Section	Citation Type	Statute Text
58	1	402	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?161+sum+HB95
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+HB95+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+HB95ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+CHAP0342+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+H1001V0008+HB0095
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+H10V0039+HB0095
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+HV0262+HB0095
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+S05V0185+HB0095
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0597HB0095+HB0095
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0613HB0095+HB0095