Income tax, state; increases deduction for prepaid tuition contract, etc. with College Savings Plan. (SB785)
Introduced By
Sen. Brandon Bell (R-Roanoke) with support from co-patron Sen. Fred Quayle (R-Suffolk)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
✓ |
Became Law |
Description
Income tax deduction; Virginia College Savings Plan. Increases from $2,000 to $4,000 the annual income tax deduction allowed for purchases and contributions for prepaid tuition contracts or savings trust accounts entered into with the Virginia College Savings Plan. The increase would become effective for taxable years beginning on or after January 1, 2009. Read the Bill »
Status
04/10/2007: signed by governor
History
Date | Action |
---|---|
12/22/2006 | Prefiled and ordered printed; offered 01/10/07 078900700 |
12/22/2006 | Referred to Committee on Finance |
01/26/2007 | Impact statement from TAX (SB785) |
02/01/2007 | Constitutional reading dispensed (39-Y 0-N) |
02/01/2007 | VOTE: (39-Y 0-N) (see vote tally) |
02/02/2007 | Read second time and engrossed |
02/05/2007 | Read third time and passed Senate (39-Y 0-N) |
02/05/2007 | VOTE: (39-Y 0-N) (see vote tally) |
02/05/2007 | Communicated to House |
02/06/2007 | Impact statement from TAX (SB785) |
02/06/2007 | Placed on Calendar |
02/06/2007 | Read first time |
02/06/2007 | Referred to Committee on Finance |
02/13/2007 | Read second time |
02/14/2007 | Read third time |
02/14/2007 | Passed House (93-Y 2-N) |
02/20/2007 | Enrolled |
02/20/2007 | Bill text as passed Senate and House (SB785ER) |
02/21/2007 | Signed by Speaker |
02/22/2007 | Signed by President |
02/26/2007 | Impact statement from TAX (SB785ER) |
03/26/2007 | Governor's recommendation received by Senate |
04/03/2007 | Placed on Calendar |
04/04/2007 | Reenrolled |
04/04/2007 | Signed by President as reenrolled |
04/04/2007 | Enacted, Chapter (effective 7/1/07) |
04/04/2007 | House rejected Governor's recommendation (23-Y 73-N) |
04/04/2007 | VOTE: ADOPTION (23-Y 73-N) (see vote tally) |
04/04/2007 | Communicated to Governor |
04/10/2007 | G Approved by Governor-Chapter 942 (effective 7/1/07) |
04/12/2007 | G Acts of Assembly Chapter text (CHAP0942) |