Income tax, corporate; addback for Captive REIT dividends. (HB95)

Introduced By

Del. Lee Ware (R-Powhatan) with support from co-patron Sen. Glen Sturtevant (R-Midlothian)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Corporate income tax; addback for Captive REIT dividends. Provides that the voting power or value of the beneficial interests or shares in a real estate investment trust (REIT) that is held in a segregated asset account of a life insurance corporation shall not be taken into consideration when determining if the REIT is a Captive REIT for corporate income tax purposes. Under current law, no deduction from corporate income is allowed for dividends paid by a Captive REIT. The bill modifies current law for purposes of determining whether a REIT is a Captive REIT that will not be allowed a deduction for the dividends it pays. The bill is effective for taxable year 2016 and thereafter. Read the Bill »


Bill Has Passed


12/13/2015Prefiled and ordered printed; offered 01/13/16 16100433D
12/13/2015Referred to Committee on Finance
01/15/2016Assigned to sub: Subcommittee Subcommittee #1
01/15/2016Assigned to sub: Subcommittee #1
01/15/2016Assigned Finance sub: Subcommittee #1
01/23/2016Impact statement from TAX (HB95)
01/27/2016Subcommittee recommends reporting (9-Y 0-N)
02/01/2016Reported from Finance (22-Y 0-N) (see vote tally)
02/02/2016Read first time
02/03/2016Read second time and engrossed
02/04/2016Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/04/2016VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/05/2016Constitutional reading dispensed
02/05/2016Referred to Committee on Finance
02/11/2016Impact statement from TAX (HB95)
02/23/2016Reported from Finance (15-Y 0-N) (see vote tally)
02/24/2016Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/25/2016Read third time
02/25/2016Passed Senate (40-Y 0-N) (see vote tally)
02/29/2016Bill text as passed House and Senate (HB95ER)
02/29/2016Impact statement from TAX (HB95ER)
02/29/2016Signed by Speaker
03/03/2016Signed by President
03/04/2016Enrolled Bill communicated to Governor on 3/4/16
03/04/2016G Governor's Action Deadline Midnight, March 11, 2016
03/11/2016G Approved by Governor-Chapter 342 (effective 7/1/16)
03/11/2016G Acts of Assembly Chapter text (CHAP0342)

Duplicate Bills

The following bills are identical to this one: SB508.