VA SB1297 | 2019 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 7 2019 - 25% progression, died in chamber
Action: 2019-01-30 - Passed by indefinitely in Finance (16-Y 0-N)
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 7 2019 - 25% progression, died in chamber
Action: 2019-01-30 - Passed by indefinitely in Finance (16-Y 0-N)
Text: Latest bill text (Prefiled) [HTML]
Summary
Refundable income tax credit for low-income taxpayers. Allows low-income individuals and married persons to claim either (i) a nonrefundable income tax credit equal to $300 for each individual, his spouse, and any dependents or (ii) a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the individual or married persons. Under current law, low-income individuals and married persons may elect either of these amounts; however, both options for claiming the credit are nonrefundable. The provisions of the bill apply to taxable years beginning on and after January 1, 2019, but before January 1, 2026.
Title
Low-income taxpayers; refundable income tax credit.
Sponsors
Roll Calls
2019-01-30 - Senate - Senate: Passed by indefinitely in Finance (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-01-30 | Senate | Passed by indefinitely in Finance (16-Y 0-N) |
2019-01-07 | Senate | Referred to Committee on Finance |
2019-01-07 | Senate | Prefiled and ordered printed; offered 01/09/19 19102405D |