Income tax, state; deductions for Energy Star certified water heater. (HB965)

Introduced By

Del. Kathy Tran (D-Springfield) with support from co-patron Del. Rip Sullivan (D-Arlington)

Progress

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

Description

Virginia taxable income; deductions; Energy Star certified water heater. Provides a deduction for the purchase of any water heater for residential use that is Energy Star certified equal to the lesser of 20 percent of the actual price paid or $500, beginning in taxable year 2022. The bill limits to taxable years beginning before January 1, 2022, the current provisions allowing individuals to deduct from their taxable personal income an amount equal to 20 percent of the sales taxes paid, up to $500, for an electric heat pump hot water heater that yields an energy factor of at least 1.7 and an advanced gas or oil water heater that has an energy factor of at least 0.65. Read the Bill »

Status

01/12/2022: Awaiting a Vote in the Finance Committee

History

DateAction
01/12/2022Committee
01/12/2022Prefiled and ordered printed; offered 01/12/22 22104041D
01/12/2022Referred to Committee on Finance
01/20/2022Impact statement from TAX (HB965)

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