Virginia Senate Bill 1443 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2019 - 25% progression, died in chamber
Action: 2019-01-30 - Incorporated by Finance
Text: Latest bill text (Prefiled) [HTML]

Virginia income tax; emergency. Advances conformity of the Commonwealth's tax code with the federal tax code to December 31, 2018, starting with taxable year 2018. The bill increases, starting with taxable year 2018, the amount of the standard deduction (i) from $3,000 to $6,000 for an individual or for married persons filing separately and (ii) from $6,000 to $12,000 for married persons filing jointly. Starting in 2019, the bill adjusts Virginia's standard deduction by the percentage increase in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) for the previous taxable year. In taxable year 2026, the standard deduction would return to $3,000 for an individual or a married person filing jointly and $6,000 for married persons filing jointly, coincident with the expiration of the individual income tax provisions of the federal Tax Cuts and Jobs Act (TCJA). Beginning in taxable year 2020, the individual tax brackets and the personal deductions will also be adjusted by the percentage increase of the C-CPI-U for the previous taxable year.

Virginia income tax; advances conformity of Commonwealth's tax code with federal tax code.

Sen. Richard Stuart [R]

2019-01-30 - Senate - Senate: Incorporated by Finance (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2019-01-30	Senate	Incorporated by Finance
2019-01-08	Senate	Referred to Committee on Finance
2019-01-08	Senate	Prefiled and ordered printed with emergency clause; offered 01/09/19 19101629D

Chapter	Article	Section	Citation Type	Statute Text
58	1	301	(n/a)	See Bill Text
58	1	320	(n/a)	See Bill Text
58	1	322.03	(n/a)	See Bill Text
58	1	400	(n/a)	See Bill Text
58	1	402	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+SB1443
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1443+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S05V0215+SB1443