Income tax, corporate; filing status for tax returns of certain affiliated corporations. (HB224)

Introduced By

Del. Carrie Coyner (R-Chesterfield) with support from co-patron Del. Mark Keam (D-Vienna)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Corporate income tax returns of affiliated corporations. Provides that, for taxable years 2023 and 2024, certain affiliated corporations may elect to switch to or from consolidated corporate income tax return filing status under certain conditions, including the requirement that the affiliated group filed on the same basis for the preceding 20 years. The option would be available only to a group with at least one affiliate that is a bank exempt from filing a Virginia corporate income tax return. Current law requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet certain specified requirements in order for permission to be granted. This bill is identical to SB 386. Read the Bill »


Bill Has Passed


01/10/2022Prefiled and ordered printed; offered 01/12/22 22101568D
01/10/2022Referred to Committee on Finance
01/19/2022Assigned Finance sub: Subcommittee #1
01/30/2022Impact statement from TAX (HB224)
02/07/2022House subcommittee amendments and substitutes offered
02/07/2022Subcommittee recommends reporting with amendments (9-Y 0-N)
02/07/2022House committee, floor amendments and substitutes offered
02/07/2022Reported from Finance with amendment(s) (21-Y 1-N) (see vote tally)
02/09/2022Read first time
02/10/2022Read second time
02/10/2022Committee amendment agreed to
02/10/2022Engrossed by House as amended HB224E
02/10/2022Printed as engrossed 22101568D-E
02/11/2022Read third time and passed House (94-Y 4-N)
02/11/2022VOTE: Passage (94-Y 4-N) (see vote tally)
02/14/2022Constitutional reading dispensed
02/14/2022Referred to Committee on Finance and Appropriations
02/16/2022Impact statement from TAX (HB224E)
03/01/2022Reported from Finance and Appropriations (14-Y 0-N) (see vote tally)
03/02/2022Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/02/2022Read third time
03/02/2022Passed Senate (40-Y 0-N) (see vote tally)
03/07/2022Bill text as passed House and Senate (HB224ER)
03/07/2022Impact statement from TAX (HB224ER)
03/08/2022Signed by Speaker
03/08/2022Signed by President
03/22/2022Enrolled Bill communicated to Governor on March 22, 2022
03/22/2022G Governor's Action Deadline 11:59 p.m., April 11, 2022
04/11/2022G Approved by Governor-Chapter 416 (effective 7/1/22)
04/11/2022G Acts of Assembly Chapter text (CHAP0416)

Duplicate Bills

The following bills are identical to this one: SB386.