Income tax; rate increase; funding for schools and law-enforcement officer salaries. (SB1286)

Introduced By

Sen. Creigh Deeds (D-Bath)

Progress

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

Description

Income tax; rate increase; funding for schools and law-enforcement officer salaries. Increases from 5.75 percent to 5.9 percent the income tax rate on income over $150,000. Under current law, the top marginal rate of 5.75 percent applies to income over $17,000. The rate change applies starting with taxable year 2021. The bill requires revenue from the increase to be appropriated for nonrecurring capital expenditures of school divisions and salary increases for state and state-supported law-enforcement officers. Read the Bill »

Status

01/11/2021: Awaiting a Vote in the Finance and Appropriations Committee

History

DateAction
01/11/2021Prefiled and ordered printed; offered 01/13/21 21101675D
01/11/2021Referred to Committee on Finance and Appropriations

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