Income tax, state; increases standard deduction. (HB472)

Introduced By

Del. Joe McNamara (R-Roanoke) with support from 6 copatrons, whose average partisan position is:

Those copatrons are Del. Glenn Davis (R-Virginia Beach), Del. Karen Greenhalgh (R-Virginia Beach), Del. Wendell Walker (R-Lynchburg), Del. Lee Ware (R-Powhatan), Sen. Frank Ruff (R-Clarksville), Sen. David Suetterlein (R-Salem)

Progress

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

Description

Income tax; standard deduction. Increases the standard deduction, starting with taxable year 2022, from $4,500 to $9,000 for single filers and from $9,000 to $18,000 for married filers (one-half of such amount in the case of a married individual filing a separate return). The increase would remain in effect until taxable year 2026, when the standard deduction is scheduled to be reduced to $3,000 for single filers and to $6,000 for married filers. Read the Bill »

Status

02/16/2022: In Committee

History

Date	Action
01/11/2022	Committee
01/11/2022	Prefiled and ordered printed; offered 01/12/22 22100741D
01/11/2022	Referred to Committee on Finance
01/23/2022	Impact statement from TAX (HB472)
01/27/2022	Assigned Finance sub: Subcommittee #1
02/02/2022	House committee, floor amendments and substitutes offered
02/02/2022	Committee substitute printed 22105245D-H1
02/02/2022	Reported from Finance with substitute (11-Y 10-N) (see vote tally)
02/02/2022	Referred to Committee on Appropriations
02/11/2022	Reported from Appropriations (10-Y 8-N) (see vote tally)
02/13/2022	Read first time
02/14/2022	Read second time
02/14/2022	Committee substitute agreed to 22105245D-H1
02/14/2022	Engrossed by House - committee substitute HB472H1
02/15/2022	Read third time and passed House (52-Y 48-N)
02/15/2022	VOTE: Passage (52-Y 48-N) (see vote tally)
02/16/2022	Constitutional reading dispensed
02/16/2022	Referred to Committee on Finance and Appropriations
02/18/2022	Impact statement from TAX (HB472H1)
03/01/2022	Continued to 2023 in Finance and Appropriations (11-Y 3-N 1-A) (see vote tally)