Bill Text: VA SB579 | 2022 | Regular Session | Comm Sub

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Bill Title: Income tax, state; refunds for individuals or married persons filing a joint return.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Engrossed - Dead) 2022-03-12 - Continued to 2022 Sp. Sess. 1 pursuant to HJR455 [SB579 Detail]

Download: Virginia-2022-SB579-Comm_Sub.html

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22106930D
SENATE BILL NO. 579 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the House Committee on Finance on February 23, 2022) (Patron Prior to Substitute--Senator Hanger) A BILL to provide income tax refunds for individuals or married persons filing a joint return.

Be it enacted by the General Assembly of Virginia:

1. §1. That in addition to any refund due pursuant to §58.1-309 of the Code of Virginia, and for taxable years beginning on and after January 1, 2021, but before January 1, 2022, an individual filing a final Virginia income tax return on or before November 1, 2022, or married persons filing a final Virginia income tax joint return on or before November 1, 2022, shall be issued a refund in an amount of up to $300 for an individual or up to $600 for married persons filing a joint return. An individual shall only be allowed a refund pursuant to this act up to the amount of such individual's tax liability after the application of any deductions, subtractions, or credits to which the individual is entitled pursuant to Chapter 3 (§58.1-300 et seq.) of Title 58.1 of the Code of Virginia. Married persons filing a joint return shall only be allowed a refund pursuant to this act up to the amount of such married persons' tax liability after the application of any deductions, subtractions, or credits to which the married persons are entitled pursuant to Chapter 3 of Title 58.1 of the Code of Virginia. Any refund issued pursuant to this act shall be subject to collection under the provisions of the Setoff Debt Collection Act (§58.1-520 et seq. of the Code of Virginia).