VA HB1962 | 2025 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 6 2025 - 25% progression
Action: 2025-01-06 - Referred to Committee on Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 6 2025 - 25% progression
Action: 2025-01-06 - Referred to Committee on Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Income tax; nonfamily adoption tax credit. Creates the nonfamily adoption tax credit as a $4,000 nonrefundable tax credit for taxable years 2025 through 2029 for an individual or married persons who, during the taxable year, finalize a legal nonfamily adoption as defined in the bill. The bill limits the aggregate amount of credits allowable to $5 million per taxable year with credits allocated by the Department on a first-come, first-served basis.
Title
Income tax, state; creates nonfamily adoption tax credit.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-06 | House | Referred to Committee on Finance |
| 2025-01-06 | House | Prefiled and ordered printed; Offered 01-13-2025 25102547D |
Virginia State Sources
| Type | Source |
|---|---|
| Summary | https://lis.virginia.gov/bill-details/20251/HB1962 |
| Text | https://lis.virginia.gov/bill-details/20251/HB1962/text/HB1962 |
