Virginia Senate Bill 1058 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on February 11 2020 - 50% progression, died in committee
Action: 2020-03-03 - Left in Appropriations
Pending: House Appropriations Committee
Text: Latest bill text (Comm Sub) [HTML]

Corporate income tax returns of affiliated corporations. Provides that, for taxable years 2020 through 2021, certain affiliated corporations may elect to switch to or from consolidated corporate income tax return filing status under certain conditions. The option would be available only to a group with at least one affiliate that is (i) a bank exempt from filing a Virginia corporate income tax return or (ii) an aerospace manufacturer. Current law requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet certain specified requirements in order for permission to be granted. The provisions of the bill are contingent on funding in a general appropriation act.

Income tax, corporate; returns of affiliated corporations, effective date.

Sen. Lynwood Lewis [D]

2020-02-19 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-19 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-17 - House - House: Subcommittee recommends reporting with substitute (8-Y 0-N) (Y: 8 N: 0 NV: 2 Abs: 0) [PASS]
2020-02-11 - Senate - Senate: Passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2020-02-11 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-10 - Senate - Senate: Constitutional reading dispensed (36-Y 0-N) (Y: 36 N: 0 NV: 4 Abs: 0) [PASS]
2020-02-06 - Senate - Senate: Reported from Finance and Appropriations with substitute (15-Y 1-N) (Y: 15 N: 1 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-03-03	House	Left in Appropriations
2020-02-19	House	Referred to Committee on Appropriations
2020-02-19	House	Reported from Finance with substitute (21-Y 1-N)
2020-02-19	House	Committee substitute printed 20108201D-H1
2020-02-17	House	Subcommittee recommends referring to Committee on Appropriations
2020-02-17	House	Subcommittee recommends reporting with substitute (8-Y 0-N)
2020-02-14	House	Assigned Finance sub: Subcommittee #1
2020-02-14	House	Referred to Committee on Finance
2020-02-14	House	Read first time
2020-02-14	House	Placed on Calendar
2020-02-11	Senate	Passed Senate (39-Y 0-N)
2020-02-11	Senate	Constitutional reading dispensed (40-Y 0-N)
2020-02-11	Senate	Engrossed by Senate - committee substitute SB1058S1
2020-02-11	Senate	Committee substitute agreed to 20107670D-S1
2020-02-11	Senate	Reading of substitute waived
2020-02-11	Senate	Read second time
2020-02-10	Senate	Constitutional reading dispensed (36-Y 0-N)
2020-02-06	Senate	Committee substitute printed 20107670D-S1
2020-02-06	Senate	Reported from Finance and Appropriations with substitute (15-Y 1-N)
2020-01-17	Senate	Referred to Committee on Finance and Appropriations
2020-01-17	Senate	Presented and ordered printed 20105425D

Chapter	Article	Section	Citation Type	Statute Text
58	1	442	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+SB1058
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB1058+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB1058S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB1058H1+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S05V0249+SB1058
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0457SB1058+SB1058
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0528SB1058+SB1058
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0582SB1058+SB1058
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H1001V0049+SB1058
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H10V0318+SB1058
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H10V0337+SB1058