Virginia House Bill 89

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on December 28 2023 - 25% progression
Action: 2024-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Taxation; rate of interest. Provides that (i) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate established by the Internal Revenue Code and (ii) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers established by the Internal Revenue Code. Current law provides that (a) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate plus two percent and (b) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers plus two percent.

Taxation; rate of interest.

Del. Joseph McNamara [R]

Date	Chamber	Action
2024-02-13	House	Left in Finance
2024-02-02	House	Assigned Finance sub: Subcommittee #1
2023-12-28	House	Referred to Committee on Finance
2023-12-28	House	Prefiled and ordered printed; offered 01/10/24 24101578D

Chapter	Article	Section	Citation Type	Statute Text
58	1	15	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+HB89
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB89+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?241+oth+HB89F161+PDF