Domestic international sales corporations (DISC); exempt from income taxation. (HB480)

Introduced By

Del. Ron Villanueva (R-Virginia Beach)

Progress

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

Description

Domestic international sales corporations; income taxation. Exempts a domestic international sales corporation (DISC) and any income attributable to a DISC from income taxes. Amends § 58.1-401, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/06/2014Committee
01/06/2014Prefiled and ordered printed; offered 01/08/14 14102732D
01/06/2014Referred to Committee on Finance
01/17/2014Assigned Finance sub: Subcommittee #2
01/19/2014Impact statement from TAX (HB480)
01/22/2014Subcommittee recommends reporting with amendment(s) (9-Y 1-N)
01/27/2014Reported from Finance with amendments (22-Y 0-N) (see vote tally)
01/28/2014Read first time
01/29/2014Read second time
01/29/2014Committee amendments agreed to
01/29/2014Engrossed by House as amended HB480E
01/29/2014Printed as engrossed 14102732D-E
01/30/2014Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/30/2014VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
01/31/2014Constitutional reading dispensed
01/31/2014Referred to Committee on Finance
02/04/2014Impact statement from TAX (HB480E)
02/11/2014Reported from Finance (17-Y 0-N) (see vote tally)
02/12/2014Constitutional reading dispensed (39-Y 0-N)
02/13/2014Read third time
02/13/2014Passed Senate (37-Y 0-N)
02/17/2014Enrolled
02/17/2014Bill text as passed House and Senate (HB480ER)
02/17/2014Signed by Speaker
02/19/2014Impact statement from TAX (HB480ER)
02/19/2014Signed by President
02/24/2014Impact statement from TAX (HB480ER)
02/27/2014G Approved by Governor-Chapter 26 (effective 7/1/14)
02/27/2014G Acts of Assembly Chapter text (CHAP0026)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 45 seconds.