Income tax, state; adjusts elements of Virginia's individual income tax to account for inflation. (HB1402)

Introduced By

Del. Mark Cole (R-Fredericksburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Individual income tax adjusted for inflation. Adjusts elements of Virginia's individual income tax to account for inflation. The individual income tax income brackets, return filing thresholds, standard deduction, and personal exemption amounts would be adjusted every two years beginning with taxable year 2015 by the percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U), for all items, for the 24-month period ending on September 30 of the calendar year immediately preceding the affected calendar year Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/17/2012Committee
12/17/2012Prefiled and ordered printed; offered 01/09/13 13101172D
12/17/2012Referred to Committee on Finance
01/12/2013Impact statement from TAX (HB1402)
01/14/2013Assigned Finance sub: #1
01/16/2013Subcommittee recommends laying on the table
02/05/2013Left in Finance