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

Introduced By

Del. Ron Villanueva (R-Virginia Beach)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Passed


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)
02/17/2014Bill 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)


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.