Income tax, state; annual adjustment for inflation. (HB215)

Introduced By

Del. Jim LeMunyon (R-Oak Hill)

Progress

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

Description

Individual income tax; adjusted for inflation. Adjusts Virginia's individual income tax brackets, standard deduction, and personal exemption amounts annually beginning with the 2016 taxable year by the percentage increase in the Consumer Price Index for all urban consumers (CPI-U), for all items, from July 1 through June 30 for the year immediately preceding the taxable year. Read the Bill »

Status

02/15/2016: Failed to Pass in Committee

History

DateAction
12/28/2015Committee
12/28/2015Prefiled and ordered printed; offered 01/13/16 16102286D
12/28/2015Referred to Committee on Finance
02/01/2016Impact statement from TAX (HB215)
02/09/2016Assigned Finance sub: Subcommittee #1
02/10/2016Subcommittee recommends continuing to 2017
02/15/2016Continued to 2017 in Finance