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HB2142

Child care tax credit; establishes an individual nonrefundable income tax credit.

Status:
Killed

Chief Patron:
Jason Miyares (R)

Session:
2021 Regular Session

Summary

As Introduced. Child care tax credit.

Establishes an individual nonrefundable income tax credit for taxable years 2020 and 2021 of up to $1,000 per taxable year for eligible child care expenses incurred and paid between September 1, 2020, and July 1, 2021, due to the closure of Virginia child care facilities or primary or secondary schools as a result of the COVID-19 pandemic. If the amount of the credit exceeds the taxpayer's tax liability for the taxable year in which the child care expenses were incurred and paid, such excess may be carried over for five years. The taxpayer must verify their eligible child-care expenses when claiming the credit in each taxable year pursuant to guidelines promulgated by the Department of Taxation. (Less)

  • Bill History

  • 01/12/2021 - House: Prefiled and ordered printed; offered 01/13/21 21100666D
  • 01/12/2021 - House: Referred to Committee on Finance
  • 01/27/2021 - House: Assigned Finance sub: Subcommittee #2
  • 01/31/2021 - House: Impact statement from TAX (HB2142)
  • 02/02/2021 - House: House subcommittee amendments and substitutes offered
  • 02/02/2021 - House: Subcommittee recommends laying on the table (6-Y 4-N)
  • 02/05/2021 - House: Left in Finance

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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