Low-income taxpayers; refundable income tax credit. (HB1435)
Introduced By
Del. Jay Jones (D-Norfolk) with support from co-patron Del. Ken Plum (D-Reston)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Refundable income tax credit for low-income taxpayers. Allows low-income individuals and married persons to claim either (i) a nonrefundable income tax credit equal to $300 for each individual, his spouse, and any dependents or (ii) a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the individual or married persons. The provisions of the bill apply to taxable years beginning on and after January 1, 2020, but before January 1, 2026. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/08/2020 | Committee |
| 01/08/2020 | Prefiled and ordered printed; offered 01/08/20 20104026D |
| 01/08/2020 | Referred to Committee on Finance |
| 01/21/2020 | Impact statement from TAX (HB1435) |
| 01/23/2020 | Assigned Finance sub: Subcommittee #3 |
| 01/24/2020 | House committee, floor amendments and substitutes offered |
| 01/24/2020 | Subcommittee recommends laying on the table (6-Y 1-N) |
| 02/11/2020 | Left in Finance |