Javascript is required to run this page

SB1146

Income tax, state; conformity with the Internal Revenue Code.

Status:
Passed

Chief Patron:
Janet Howell (D)

Session:
2021 Regular Session

Summary

As Passed Both Chambers. Conformity of the Commonwealth's taxation system with the Internal Revenue Code.

Advances Virginia’s date of conformity with the Internal Revenue Code from December 31, 2019, to December 31, 2020. The bill deconforms from the suspension of the overall limitation on itemized deductions and the reduction in the medical expense deduction floor for taxable year 2017 and taxable years on and after January 1, 2019, and from the provisions of the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) related to the net operating loss limitation and carryback, a loss limitation applicable to taxpayers other than corporations, the limitation on business interest, and certain loan forgiveness and other business financial assistance. The bill provides an individual and corporate income tax deduction or subtraction, as applicable, of up to $100,000 for Rebuild Virginia grants and certain amounts related to Paycheck Protection Program loans. (Less)

  • Bill History

  • 01/05/2021 - Senate: Prefiled and ordered printed with emergency clause; offered 01/13/21 21102155D
  • 01/05/2021 - Senate: Referred to Committee on Finance and Appropriations
  • 02/03/2021 - Senate: Senate committee, floor amendments and substitutes offered
  • 02/03/2021 - Senate: Reported from Finance and Appropriations with substitute (10-Y 4-N 1-A)
  • 02/03/2021 - Senate: Committee substitute printed 21103832D-S1
  • 02/03/2021 - Senate: Incorporates SB1394 (Petersen)
  • 02/03/2021 - Senate: Constitutional reading dispensed (39-Y 0-N)
  • 02/03/2021 - Senate: Impact statement from TAX (SB1146S1)
  • 02/04/2021 - Senate: Senate committee, floor amendments and substitutes offered
  • 02/04/2021 - Senate: Read second time
  • 02/04/2021 - Senate: Reading of substitute waived
  • 02/04/2021 - Senate: Committee substitute agreed to 21103832D-S1
  • 02/04/2021 - Senate: Reading of amendments waived
  • 02/04/2021 - Senate: Amendments by Senator McDougle rejected (17-Y 22-N)   Close Floor Vote
  • 02/04/2021 - Senate: Reading of amendments waived
  • 02/04/2021 - Senate: Amendments by Senator Newman agreed to
  • 02/04/2021 - Senate: Emergency clause deleted
  • 02/04/2021 - Senate: Engrossed by Senate - committee substitute with amendments SB1146ES1
  • 02/04/2021 - Senate: Printed as engrossed 21103832D-ES1
  • 02/04/2021 - Senate: Constitutional reading dispensed (39-Y 0-N)
  • 02/04/2021 - Senate: Passed Senate (39-Y 0-N)
  • 02/07/2021 - House: Placed on Calendar
  • 02/07/2021 - House: Read first time
  • 02/07/2021 - House: Referred to Committee on Finance
  • 02/08/2021 - House: Continued to Special Session 1 in Finance
  • 02/08/2021 - Senate: Impact statement from TAX (SB1146ES1)
  • 02/10/2021 - House: House committee, floor amendments and substitutes offered
  • 02/10/2021 - House: Reported from Finance with substitute (13-Y 9-N)
  • 02/10/2021 - House: Committee substitute printed 21200004D-H1
  • 02/12/2021 - House: Read second time
  • 02/15/2021 - House: Read third time
  • 02/15/2021 - House: Committee substitute agreed to 21200004D-H1
  • 02/15/2021 - House: Engrossed by House - committee substitute SB1146H1
  • 02/15/2021 - House: Passed House with substitute (55-Y 44-N)
  • 02/15/2021 - House: VOTE: Adoption (55-Y 44-N)   Close Floor Vote
  • 02/17/2021 - Senate: House substitute rejected by Senate (2-Y 37-N)
  • 02/18/2021 - House: House insisted on substitute
  • 02/18/2021 - House: House requested conference committee
  • 02/19/2021 - Senate: Senate acceded to request (38-Y 0-N)
  • 02/19/2021 - Senate: Conferees appointed by Senate
  • 02/19/2021 - Senate: Senators: Howell, Barker, Newman
  • 02/19/2021 - House: Conferees appointed by House
  • 02/19/2021 - House: Delegates: Watts, Torian, Knight
  • 02/27/2021 - Conference: Amended by conference committee
  • 02/27/2021 - Senate: Conference substitute printed 21200693D-S2
  • 02/27/2021 - Senate: Conference report agreed to by Senate (39-Y 0-N)
  • 02/27/2021 - House: Conference report agreed to by House (95-Y 2-N)
  • 02/27/2021 - House: VOTE: Agreed To (95-Y 2-N)
  • 02/27/2021 - House: Emergency clause added
  • 03/09/2021 - Senate: Enrolled
  • 03/09/2021 - Senate: Bill text as passed Senate and House (SB1146ER)
  • 03/09/2021 - Senate: Signed by President
  • 03/11/2021 - House: Signed by Speaker
  • 03/15/2021 - Senate: Enrolled Bill Communicated to Governor on March 15, 2021
  • 03/15/2021 - Governor: Governor's Action Deadline 11:59 p.m., March 31, 2021
  • 03/15/2021 - Governor: Approved by Governor-Chapter 118 (effective 3/15/21)
  • 03/15/2021 - Governor: Acts of Assembly Chapter text (CHAP0118)
  • 05/18/2021 - Senate: Impact statement from TAX (SB1146ER)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

See other bills related to: