Income tax, state; conformity with the Internal Revenue Code. (HB1935)
Introduced By
Del. Vivian Watts (D-Annandale) with support from co-patron Del. Kathleen Murphy (D-McLean)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Conformity of the Commonwealth's taxation system with the Internal Revenue Code; emergency. Advances Virginia's date of conformity with the Internal Revenue Code from December 31, 2019, to December 31, 2020. The bill deconforms from the suspension of the overall limitation on itemized deductions and the reduction in the medical expense deduction floor for taxable year 2017 and taxable years on and after January 1, 2019, and from the provisions of the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) related to the net operating loss limitation and carryback, a loss limitation applicable to taxpayers other than corporations, the limitation on business interest, and certain loan forgiveness and other business financial assistance. The bill provides an individual and corporate income tax deduction or subtraction, as applicable, of up to $100,000 for Rebuild Virginia grants and certain amounts related to Paycheck Protection Program loans. The bill contains an emergency clause and is identical to SB 1146. Read the Bill »
Status
03/15/2021: signed by governor
History
Date | Action |
---|---|
01/11/2021 | Prefiled and ordered printed with emergency clause; offered 01/13/21 21102183D |
01/11/2021 | Referred to Committee on Finance |
01/16/2021 | Impact statement from TAX (HB1935) |
01/18/2021 | House committee, floor amendments and substitutes offered |
01/18/2021 | Reported from Finance with substitute (14-Y 8-N) (see vote tally) |
01/18/2021 | Committee substitute printed 21103005D-H1 |
01/19/2021 | Read first time |
01/20/2021 | Passed by for the day |
01/21/2021 | Passed by for the day |
01/22/2021 | Passed by for the day |
01/25/2021 | Passed by for the day |
01/26/2021 | Passed by for the day |
01/27/2021 | Passed by for the day |
01/28/2021 | Passed by for the day |
01/29/2021 | Passed by for the day |
02/01/2021 | Passed by for the day |
02/02/2021 | Passed by for the day |
02/03/2021 | Passed by for the day |
02/04/2021 | Read second time |
02/04/2021 | Passed by temporarily |
02/04/2021 | Floor substitute printed 21104437D-H2 (Watts) |
02/04/2021 | Amendment by Delegate Watts withdrawn |
02/04/2021 | Committee on Finance substitute rejected 21103005D-H1 |
02/04/2021 | Substitute by Delegate Watts agreed to 21104437D-H2 |
02/04/2021 | Emergency clause deleted |
02/04/2021 | Engrossed by House - floor substitute HB1935H2 |
02/05/2021 | Pending question ordered |
02/05/2021 | Constitutional reading dispensed |
02/05/2021 | Read third time and passed House (55-Y 43-N) |
02/05/2021 | VOTE: Passage (55-Y 43-N) (see vote tally) |
02/05/2021 | Referred to Committee on Finance and Appropriations |
02/05/2021 | Impact statement from TAX (HB1935H2) |
02/05/2021 | Continued to 2021 Sp. Sess. 1 in Finance and Appropriations (16-Y 0-N) (see vote tally) |
02/16/2021 | Senate committee, floor amendments and substitutes offered |
02/16/2021 | Reported from Finance and Appropriations with substitute (13-Y 0-N) (see vote tally) |
02/16/2021 | Committee substitute printed 21200244D-S1 |
02/16/2021 | Constitutional reading dispensed (37-Y 0-N) (see vote tally) |
02/17/2021 | Read third time |
02/17/2021 | Reading of substitute waived |
02/17/2021 | Committee substitute agreed to 21200244D-S1 |
02/17/2021 | Reading of amendments waived |
02/17/2021 | Amendments by Senator McDougle rejected (17-Y 22-N) (see vote tally) |
02/17/2021 | Engrossed by Senate - committee substitute HB1935S1 |
02/17/2021 | Passed Senate with substitute (38-Y 1-N) (see vote tally) |
02/18/2021 | Placed on Calendar |
02/18/2021 | Senate substitute rejected by House 21200244D-S1 (5-Y 95-N) |
02/18/2021 | VOTE: REJECTED (5-Y 95-N) (see vote tally) |
02/19/2021 | Senate insisted on substitute (38-Y 0-N) |
02/19/2021 | Senate requested conference committee |
02/19/2021 | House acceded to request |
02/19/2021 | Conferees appointed by House |
02/19/2021 | Delegates: Watts, Torian, Knight |
02/19/2021 | Conferees appointed by Senate |
02/19/2021 | Senators: Howell, Barker, Newman |
02/25/2021 | C Amended by conference committee |
02/25/2021 | Conference substitute printed 21200691D-H3 |
02/25/2021 | Substitute bill reprinted 21200691D-H3 |
02/25/2021 | Conference report agreed to by House (94-Y 2-N) |
02/25/2021 | VOTE: Agreed To (94-Y 2-N) |
02/26/2021 | Impact statement from TAX (HB1935H2) |
02/27/2021 | Conference report agreed to by Senate (38-Y 0-N) |
02/27/2021 | Emergency clause added |
03/09/2021 | Enrolled |
03/09/2021 | Bill text as passed House and Senate (HB1935ER) |
03/09/2021 | Signed by President |
03/11/2021 | Signed by Speaker |
03/15/2021 | Enrolled Bill communicated to Governor on March 15, 2021 |
03/15/2021 | G Governor's Action Deadline 11:59 p.m., March 31, 2021 |
03/15/2021 | G Approved by Governor-Chapter 117 (effective 3/15/21) |
03/15/2021 | G Acts of Assembly Chapter text (CHAP0117) |
05/18/2021 | Impact statement from TAX (HB1935ER) |