VA HB969 | 2024 | Regular Session

Note: Carry Foward to future HB969

Status

Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on January 9 2024 - 25% progression, died in committee
Action: 2024-02-07 - Continued to 2025 in Finance by voice vote
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Summary

Child tax credit. Creates a tax credit for taxable years 2024 through 2028 for individuals whose households include dependents younger than the age of 18. The bill provides that the amount of the credit will be equal to $500 for each such dependent for an individual or married persons filing a joint return whose family Virginia adjusted gross income, as defined by Virginia code, does not exceed $100,000. The bill provides that if the taxpayer is a resident of the Commonwealth for the full taxable year, and the amount of such credit exceeds the taxpayer's liability for the taxable year, the excess shall be refunded by the Tax Commissioner. Child tax credit. Creates a tax credit for taxable years 2024 through 2028 for individuals whose households include dependents younger than the age of 18. The bill provides that the amount of the credit will be equal to $500 for each such dependent for an individual or married persons filing a joint return whose family Virginia adjusted gross income, as defined by Virginia code, does not exceed $100,000. The bill provides that if the taxpayer is a resident of the Commonwealth for the full taxable year, and the amount of such credit exceeds the taxpayer's liability for the taxable year, the excess shall be refunded by the Tax Commissioner.

Tracking Information

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Title

Child tax credit; creates a credit for taxable years 2024 through 2028.

Sponsors


Roll Calls

2024-02-05 - House - House: Subcommittee recommends continuing to 2025 (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 1) [PASS]

History

DateChamberAction
2024-02-07HouseContinued to 2025 in Finance by voice vote
2024-02-05HouseSubcommittee recommends continuing to 2025 (7-Y 0-N)
2024-02-02HouseAssigned Finance sub: Subcommittee #3
2024-01-09HouseReferred to Committee on Finance
2024-01-09HousePrefiled and ordered printed; offered 01/10/24 24100763D

Same As/Similar To

HB969 (Carry Over) 2024-02-07 - Continued to 2025 in Finance by voice vote

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
581339.15(n/a)See Bill Text

Virginia State Sources


Bill Comments

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