Virginia House Bill 598 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 11 2016 - 25% progression, died in committee
Action: 2016-02-17 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Low-income taxpayer tax credit. Allows low-income individuals and married persons to claim a refundable income tax credit equal to 10 percent of the federal earned income tax credit claimed by the individual or married persons for the year in lieu of the current options available for claiming the credit. Under current law, low-income individuals and married persons may claim (i) a nonrefundable income tax credit equal to $300 for each of the individual, his spouse, and any dependents or (ii) a nonrefundable income tax credit equal to 20 percent of the federal earned income tax credit claimed by the individual or married persons for the year. The provisions of the bill would become effective beginning with taxable year 2016.

Income tax, state; low-income taxpayer tax credit.

Del. Kenneth Plum [D]

Date	Chamber	Action
2016-02-17	House	Left in Finance
2016-01-29	House	Subcommittee recommends laying on the table by voice vote
2016-01-19	House	Assigned Finance sub: Subcommittee #3
2016-01-11	House	Referred to Committee on Finance
2016-01-11	House	Prefiled and ordered printed; offered 01/13/16 16101045D

Chapter	Article	Section	Citation Type	Statute Text
58	1	339.8	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?161+sum+HB598
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+HB598+hil