Virginia Senate Bill 457 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 5-0)
Status: Introduced on January 7 2020 - 25% progression, died in committee
Action: 2020-12-04 - Left in Finance and Appropriations
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]

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 an active or reserve Virginia National Guard member or (ii) income of a self-employed active or reserve Virginia 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 at least 45 days but less than 65 days 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. The bill allows a taxpayer to carry unused credits over for up to five taxable years.

Income tax, state and corporate; tax credit for employers of National Guard members.

Sen. Bryce Reeves [R]	Sen. Bill DeSteph [R]	Sen. Amanda Chase [R]	Sen. Mark Peake [R]
Sen. Todd Pillion [R]

2020-01-29 - Senate - Senate: Continued to 2021 in Finance and Appropriations (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-12-04	Senate	Left in Finance and Appropriations
2020-01-29	Senate	Continued to 2021 in Finance and Appropriations (15-Y 0-N)
2020-01-08	Senate	Moved from Finance to Finance and Appropriations due to a change of the committee name
2020-01-07	Senate	Referred to Committee on Finance and Appropriations
2020-01-07	Senate	Prefiled and ordered printed; offered 01/08/20 20102174D

SB457 (Carry Over) 2020-01-29 - Continued to 2021 in Finance and Appropriations (15-Y 0-N)

Chapter	Article	Section	Citation Type	Statute Text
58	1	339.13	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?211+sum+SB457
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?211+ful+SB457+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?211+oth+SB457F161+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+S05C0076+SB0457