Income tax, state; military benefits subtraction, person 60 years of age or older, etc. (SB528)

Introduced By

Sen. Bryce Reeves (R-Spotsylvania) with support from co-patrons Sen. Bill DeSteph (R-Virginia Beach), and Sen. Jen Kiggans (R-Virginia Beach)

Progress

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

Description

Income tax; military benefits subtraction. Provides an individual income tax subtraction for up to $5,000 of military benefits in taxable year 2022, up to $10,000 in taxable year 2023, up to $15,000 in taxable year 2024, and up to $20,000 in taxable year 2025 and each taxable year thereafter. The subtraction is limited to recipients of such military benefits who are age 60 or older. Read the Bill »

Status

02/28/2022: Passed the House

History

DateAction
01/12/2022Prefiled and ordered printed with emergency clause; offered 01/12/22 22104279D
01/12/2022Referred to Committee on Finance and Appropriations
02/02/2022Impact statement from TAX (SB528)
02/08/2022Senate subcommittee amendments and substitutes offered
02/10/2022Incorporates SB381 (McDougal)
02/10/2022Senate committee, floor amendments and substitutes offered
02/10/2022Reported from Finance and Appropriations with substitute (16-Y 0-N) (see vote tally)
02/10/2022Committee substitute printed 22106367D-S1
02/10/2022Incorporates SB381 (McDougle)
02/10/2022Incorporates SB586 (Chase)
02/11/2022Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/14/2022Read second time
02/14/2022Reading of substitute waived
02/14/2022Committee substitute agreed to 22106367D-S1
02/14/2022Emergency clause deleted
02/14/2022Engrossed by Senate - committee substitute SB528S1
02/14/2022Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/14/2022Passed Senate (40-Y 0-N) (see vote tally)
02/18/2022Placed on Calendar
02/18/2022Read first time
02/18/2022Referred to Committee on Finance
02/20/2022Impact statement from TAX (SB528S1)
02/23/2022House committee, floor amendments and substitutes offered
02/23/2022Reported from Finance with substitute (21-Y 0-N) (see vote tally)
02/23/2022Committee substitute printed 22106926D-H1
02/25/2022Read second time
02/28/2022Read third time
02/28/2022Committee substitute agreed to 22106926D-H1
02/28/2022Engrossed by House - committee substitute SB528H1
02/28/2022Passed House with substitute (98-Y 0-N 1-A)
02/28/2022VOTE: Passage (98-Y 0-N 1-A) (see vote tally)
03/02/2022House substitute rejected by Senate (11-Y 29-N) (see vote tally)
03/02/2022House insisted on substitute
03/02/2022House requested conference committee
03/02/2022Senate acceded to request (40-Y 0-N) (see vote tally)
03/02/2022Conferees appointed by Senate
03/02/2022Senators: Reeves, Locke, Deeds
03/02/2022Conferees appointed by House
03/02/2022Delegates: McGuire, Orrock, Torian
03/07/2022C Amended by conference committee
03/07/2022Conference substitute printed 22107553D-S2
03/07/2022Passed by for the day
03/12/2022Continued to 2022 Sp. Sess. pursuant to HJR 455
03/12/2022Continued to 2022 Sp. Sess. 1 pursuant to HJR455

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