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HB1771

Income tax, state and corporate; tax credit for employers of Nat'l Guard members, etc.

Status:
Killed

Chief Patron:
Nick Freitas (R)

Session:
2021 Regular Session

Summary

As Introduced. Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members.

Provides for taxable years 2021 through 2025 a nonrefundable tax credit against individual and corporate income taxes for (i) wages paid by an employer to an employee who is a Virginia National Guard member or (ii) income of a self-employed 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 45 days or more during such taxable year. The credit shall not be allowed if such member was in a military pay status for fewer than 45 days during such taxable year. (Less)
  • Bill History

  • 12/28/2020 - House: Prefiled and ordered printed; offered 01/13/21 21100645D
  • 12/28/2020 - House: Referred to Committee on Finance
  • 01/14/2021 - House: Impact statement from TAX (HB1771)
  • 01/16/2021 - House: Assigned Finance sub: Subcommittee #2
  • 01/26/2021 - House: House subcommittee amendments and substitutes offered
  • 01/26/2021 - House: Subcommittee recommends reporting with substitute (10-Y 0-N)
  • 01/26/2021 - House: Subcommittee recommends referring to Committee on Appropriations
  • 01/27/2021 - House: Reported from Finance with substitute (22-Y 0-N)
  • 01/27/2021 - House: Committee substitute printed 21103137D-H1
  • 01/27/2021 - House: Referred to Committee on Appropriations
  • 01/27/2021 - House: Assigned App. sub: Commerce Agriculture & Natural Resources
  • 01/29/2021 - House: House subcommittee amendments and substitutes offered
  • 01/29/2021 - House: Subcommittee recommends laying on the table (5-Y 2-N)
  • 02/05/2021 - House: Left in Appropriations