VA HB230 | 2020 | Regular Session
Status
Spectrum: Moderate Partisan Bill (Republican 33-5)
Status: Introduced on December 28 2019 - 25% progression, died in chamber
Action: 2020-01-29 - Incorporated by Finance
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on December 28 2019 - 25% progression, died in chamber
Action: 2020-01-29 - Incorporated by Finance
Text: Latest bill text (Prefiled) [HTML]
Summary
Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2020 through 2024 a nonrefundable tax credit against individual and corporate income taxes for (i) wages paid by an employer to an employee who is a Virginia National Guard member or (ii) income of a self-employed National Guard member attributable to his business. The amount of the credit shall be 25 percent if such member was in a military pay status for 65 days or more during such taxable year or 15 percent if such member was in a military pay status for 45 days or more during such taxable year. The credit shall not be allowed if such member was in a military pay status for less than 45 days during such taxable year.
Title
Income tax, state and corporate; tax credit for employers of National Guard members.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2020-01-29 | House | Incorporated by Finance |
2020-01-27 | House | Subcommittee recommends incorporating (HB1620-Helmer) by voice vote |
2020-01-23 | House | Assigned Finance sub: Subcommittee #1 |
2019-12-28 | House | Referred to Committee on Finance |
2019-12-28 | House | Prefiled and ordered printed; offered 01/08/20 20101748D |
Code Citations
Virginia State Sources
Type | Source |
---|---|
Summary | https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB230 |
Text | https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB230+hil |