Bills Pending Virginia House Finance Committee

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VAHB698Intro

Prefile
License taxes; exemptions. Authorizes localities to exempt any class of taxpayers from license taxes and fees. The bill provides that such exemption shall be made by general law and shall be uniform upon taxpayers operating in the same line of busine...
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VAHB589Intro

Prefile
Income tax; motion picture production tax credit. Removes the sunset for the motion picture production tax credit, which currently is set to expire after taxable year 2026. The bill increases the aggregate limit on credits from $6.5 million to $15 mi...
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VAHB901Intro

Prefile
Individual income tax; late payment penalty. Provides that the Department of Taxation shall not assess a late payment penalty to the entire tax or to any unpaid balance of the income tax owed by an individual unless and until the taxpayer fails to fi...
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VAHB1295Intro

Prefile
Personal property tax; farm machinery and farm implements. Provides that a locality may exempt from tangible personal property taxes certain farm machinery and farm implements, which shall include (i) freezer and refrigeration equipment for storage a...
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VAHB290Intro

Prefile
Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2022 through 2026 a nonrefundable tax credit against individual and corporate income taxes for (i) wa...
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VAHB1190Intro

Prefile
Motor vehicle sales and use tax; definition of sale price. Excludes from the sale price for determining motor vehicle sales and use tax the amount of any credit given by the seller for any motor vehicle taken as a trade-in.
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VAHB592Intro

Prefile
Income tax credit; conversion to employee ownership. Creates a nonrefundable, one-time individual and corporate income tax credit for an eligible business that (i) transfers whole or partial ownership to employees in the form of a worker cooperative,...
[Detail][Text][Discuss]
2022-11-22
To House Finance Committee
VASB298Engross

Sine Die
Additional local sales and use tax to support schools. Adds the City of Charlottesville to the list of localities that, under current law, are authorized to impose an additional local sales and use tax at a rate not to exceed one percent, with the re...
[Detail][Text][Discuss]
2022-03-08
To House Finance Committee
VASB472Engross

Sine Die
Additional local sales and use tax; use of revenues for construction or renovation of schools. Allows any county or city to levy a local general retail sales tax and a local use tax at a rate not to exceed one percent as determined by its governing b...
[Detail][Text][Discuss]
2022-03-08
To House Finance Committee
VASB37Engross

Sine Die
Sales tax; additional local tax for schools. Adds Isle of Wight County to the list of localities that, under current law, are authorized to impose an extra one percent local sales tax. Revenue from the tax may be used only for constructing or renovat...
[Detail][Text][Discuss]
2022-03-08
To House Finance Committee
VAHB152Intro

Sine Die
Sales and use tax; payment card processing fees. Provides a sales and use tax exemption for the portion of any transaction that is a payment card processing fee, defined in the bill. The bill also provides such an exemption from local meals taxes.
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1343Intro

Sine Die
Taxation in the Commonwealth. Makes numerous changes to Taxation in the Commonwealth. Makes numerous changes to the Commonwealth's tax structure. The bill provides that the standard deduction for individual income taxes shall be set permanently at $4...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB295Intro

Sine Die
Corporate income tax rate. Reduces the corporate income tax from its current rate of six percent to five percent in taxable year 2022, four percent in taxable year 2023, three percent in taxable year 2024, and two percent in taxable year 2025 and sub...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1154Intro

Sine Die
Retail sales and use tax; exemption; aircraft parts; sunset. Extends from July 1, 2022, to July 1, 2027, the sunset for the retail sales and use tax exemption on parts, engines, and supplies used for maintaining, repairing, or reconditioning aircraft...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB7Intro

Sine Die
Transient occupancy tax; supporting documentation. Requires accommodations providers to submit certain supporting documentation, upon request by a locality, when remitting transient occupancy taxes collected.
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB965Intro

Sine Die
Virginia taxable income; deductions; Energy Star certified water heater. Provides a deduction for the purchase of any water heater for residential use that is Energy Star certified equal to the lesser of 20 percent of the actual price paid or $500, b...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB352Intro

Sine Die
Virginia taxable income; business interest. Increases from 20 percent to 50 percent the Virginia individual and corporate income tax deduction for business interest disallowed as a deduction under § 163(j) of the Internal Revenue Code for taxable ye...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB297Intro

Sine Die
Suspension of regional fuels tax. Suspends the imposition of any regional fuels tax in the Commonwealth on and after July 1, 2022, but before July 1, 2023.
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1219Intro

Sine Die
Historic rehabilitation tax credit. Increases from $5 million to $10 million the maximum amount of the historic rehabilitation tax credit, including amounts carried over from prior taxable years, that may be claimed by a taxpayer in any taxable year ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1217Intro

Sine Die
Virginia local journalism sustainability credits. Creates a nonrefundable income tax credit for eligible local newspaper publishers, defined in the bill, for compensation paid to local news journalists. The credit is equal to (i) for the first taxabl...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB824Intro

Sine Die
Housing opportunity tax credit; specialty populations. Expands availability beginning in taxable year 2022 of the nonrefundable Virginia Housing Opportunity Tax Credit, which is equal to the amount of the federal low-income housing tax credit allocat...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1069Intro

Sine Die
Income tax subtraction; veteran retirement compensation. Provides an individual income tax subtraction for up to $40,000 of the amount of annual retirement compensation received by a veteran for service as a member of the United States Armed Forces, ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB100Intro

Sine Die
Tax credit for parents of stillborn child. Establishes a refundable income tax credit for individual filers or married persons filing jointly for taxable years on and after January 1, 2022, but before January 1, 2027, in an amount equal to $2,000 for...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB545Intro

Sine Die
Additional local sales and use tax to support schools. Adds the City of Charlottesville to the list of localities that, under current law, are authorized to impose an additional local sales and use tax at a rate not to exceed one percent, with the re...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB63Intro

Sine Die
Additional local sales and use tax to support schools. Adds Prince Edward County to the list of localities that, under current law, are authorized to impose an additional local sales and use tax at a rate not to exceed one percent, with the revenue u...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB106Intro

Sine Die
Income tax; rolling conformity; report. Provides that, beginning with taxable year 2022, Virginia shall generally conform to federal tax laws on a rolling basis, meaning that Virginia tax laws incorporate changes to the Internal Revenue Code as soon ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB75Intro

Sine Die
Local taxing authority. Restricts localities from imposing a transient occupancy tax at a rate that exceeds five percent and provides that any tax revenues from a rate of greater than two percent but less than five percent shall be spent solely for t...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB380Intro

Sine Die
Local license taxes; elimination of authority to impose. Prohibits any county, city, or town from imposing any license tax or fee in any taxable year beginning on or after January 1, 2023. The bill does not apply to any severance tax that is levied a...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB274Intro

Sine Die
Sales and transient occupancy taxes; accommodations intermediaries. Broadens the definition of accommodations intermediary for purposes of collection of sales tax by accommodations intermediaries.
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1045Intro

Sine Die
Income tax subtraction; veteran retirement compensation. Provides an individual income tax subtraction for certain amounts of the annual retirement compensation received by a veteran who is at least 65 years old for service as a member of the United ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB531Intro

Sine Die
Additional local sales and use tax to support schools. Authorizes all counties and cities to impose an additional local sales and use tax at a rate not to exceed one percent, with the revenue used only for capital projects for the construction or ren...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB858Intro

Sine Die
Economic development; incentives to attract knowledge workers. Provides, for taxable years 2022 through 2027, an income tax deduction for 50 percent of the amount a qualified knowledge worker, defined in the bill, pays for residential high speed inte...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1099Intro

Sine Die
Additional local sales and use tax; use of revenues for construction or renovation of schools. Allows any county or city to levy a local general retail sales tax and a local use tax at a rate not to exceed one percent as determined by its governing b...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1008Intro

Sine Die
Sales tax; exemption for food purchased for human consumption and essential personal hygiene products. Exempts food purchased for human consumption and essential personal hygiene products (the grocery tax) from all state, regional, and local sales ta...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB784Intro

Sine Die
Home instruction and private school tax credit. Creates an individual, nonrefundable income tax credit for taxable years 2022 through 2026, for amounts paid by the parent or legal guardian of a child for the child's home instruction expenses or tuiti...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB720Intro

Sine Die
Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more a...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1167Intro

Sine Die
Tax credits; vested interest. Creates a vested interest when a taxpayer claims a tax credit, including an interest in any conditions placed upon the credit, and prohibits alteration of such interest by a subsequent action of the General Assembly. The...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB849Intro

Sine Die
Income tax; geothermal tax credit. Establishes an Income tax; geothermal tax credit. Establishes an individual income tax credit for taxable years 2023 through 2027 for qualified expenditures related to a geothermal system placed in service at a resi...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB442Intro

Sine Die
Income tax credit; employers of G3 Program or cybersecurity graduates. Creates a nonrefundable individual and corporate income tax credit for employers that hire eligible employees who are (i) graduates of the Get Skilled, Get a Job, Give Back Progra...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1114Intro

Sine Die
Additional real property tax on commercial and industrial property in certain localities.
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1312Intro

Sine Die
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 inco...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1104Intro

Sine Die
Telework expenses tax credit. Reinstates the telework expenses tax credit for taxable years 2022 through 2031. The previous version of the credit expired on January 1, 2019. The bill removes requirements that were in place under the previous version ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB607Intro

Sine Die
Sales and use tax exemption; aircraft components. Extends from July 1, 2022, to July 1, 2027, the sunset date for the sales and use tax exemption for parts, engines, and supplies used for maintaining, repairing, or reconditioning aircraft or any airc...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB401Intro

Sine Die
Income taxation; pass-through entities. Permits a qualifying pass-through entity, defined in the bill, to make an annual election in taxable years 2021 through 2025 to pay an elective income tax at a rate of 5.75 percent, created by the bill, at the ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB846Intro

Sine Die
Income tax deduction; teaching material expenses. Provides an income tax deduction beginning in taxable year 2022 for the lesser of $500 or the actual purchase price of teaching materials purchased by a teacher and used in teaching Virginia public pr...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB874Intro

Sine Die
Tax credit; automated external defibrillator. Creates a one-time, individual income tax credit of up to $1,200 for the purchase of an automated external defibrillator that is placed in the taxpayer's vehicle. The credit may be claimed during taxable ...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB1152Intro

Sine Die
Sales and use tax; agricultural exemptions. Provides a sales and use tax exemption for structural construction materials and environmental control systems to be affixed or integrated into a commercial greenhouse structure, so long as such materials a...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB289Intro

Sine Die
Income tax; indexing brackets and exemptions. Starting with taxable year 2022, indexes income tax brackets, the personal exemption, and the additional personal exemption for the blind or the aged. The bill requires the indexing ratio to be based on a...
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB788Intro

Sine Die
Education Improvement Scholarships Tax Credits program. Increases from 65 percent to 75 percent the tax credit for the value of the monetary or marketable securities donation made by a taxpayer to an eligible scholarship foundation.
[Detail][Text][Discuss]
2022-02-15
To House Finance Committee
VAHB290Intro

Sine Die
Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2022 through 2026 a nonrefundable tax credit against individual and corporate income taxes for (i) wa...
[Detail][Text][Discuss]
2022-02-07
To House Finance Committee
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