Third-party settlement organizations; reporting of payments. (HB730)

Introduced By

Del. Vivian Watts (D-Annandale)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Reporting of payments by third-party settlement organizations. Requires third-party settlement organizations (TPSOs) to report to the Tax Department the gross amount of payments made to any participating payee, a person who receives payment from a TPSO. Generally speaking, a TPSO is a company that provides a platform for buyers and sellers to transact goods or services and settles transactions between those parties. Examples of TPSOs would be marketplace facilitators and "gig economy" platforms. Under federal law, payments by TPSOs to participating payees need not be reported unless they exceed $20,000 and there are more than 200 transactions between the TPSO and the participating payee. The bill instead requires use of the standard 1099 reporting threshold of $600 for non-TPSO income as the level at which TPSO income must be reported to the Tax Department. The requirements of the bill apply only to payments to participating payees with a Virginia address. This bill is identical to SB 211. Read the Bill »


Bill Has Passed


01/06/2020Prefiled and ordered printed; offered 01/08/20 20100549D
01/06/2020Referred to Committee on Finance
01/14/2020Impact statement from TAX (HB730)
01/15/2020Failed to report (defeated) in Finance (9-Y 11-N) (see vote tally)
01/22/2020Reconsidered by Finance
01/22/2020Reported from Finance (14-Y 8-N) (see vote tally)
01/24/2020Read first time
01/27/2020Read second time and engrossed
01/28/2020Read third time and passed House (58-Y 40-N)
01/28/2020VOTE: Passage (58-Y 40-N) (see vote tally)
01/29/2020Constitutional reading dispensed
01/29/2020Referred to Committee on Finance and Appropriations
02/18/2020Reported from Finance and Appropriations (11-Y 0-N) (see vote tally)
02/19/2020Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/20/2020Read third time
02/20/2020Passed Senate (39-Y 1-N) (see vote tally)
02/25/2020Bill text as passed House and Senate (HB730ER)
02/25/2020Impact statement from TAX (HB730ER)
02/25/2020Signed by Speaker
02/26/2020Signed by President
03/03/2020G Governor's Action Deadline 11:59 p.m., April 6, 2020
03/03/2020Enrolled Bill communicated to Governor on March 3, 2020
03/03/2020G Governor's Action Deadline 11:59 p.m., March 10, 2020
03/10/2020G Approved by Governor-Chapter 248 (effective 7/1/20)
03/10/2020G Acts of Assembly Chapter text (CHAP0248)

Duplicate Bills

The following bills are identical to this one: SB211.