Income tax, state; conformity; standard deduction. (SB1211)

Introduced By

Sen. Ben Chafin (R-Lebanon)

Progress

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

Description

Virginia income tax; conformity; standard deduction; emergency. Advances conformity of the Commonwealth's tax code with the federal tax code to December 31, 2018, including conformity to the federal Tax Cuts and Jobs Act. The bill raises Virginia's standard deduction to $6,000 per taxpayer or $12,000 for married persons filing jointly for taxable year 2018. In future tax years, the deduction will be adjusted by a percentage equal to the difference in the Chained Consumer Price Index for All Urban Consumers between the current year and 2018. The bill also contains an emergency clause. Amends § 58.1-301, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/04/2019Prefiled and ordered printed with emergency clause; offered 01/09/19 19101501D
01/04/2019Referred to Committee on Finance
01/19/2019Impact statement from TAX (SB1211)
01/20/2019Impact statement from TAX (SB1211)
01/30/2019Passed by indefinitely in Finance (16-Y 0-N) (see vote tally)

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