VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2016 SESSION

• | print version

HB 60 Income tax, state; subtraction for National Guard pay.

Introduced by: Hyland F. "Buddy" Fowler, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax subtraction for National Guard pay. Increases from $3,000 to $5,000 the maximum individual income tax subtraction for National Guard pay. Under current law, the annual subtraction for wages or salary received for service in the National Guard of the Commonwealth of Virginia is the lesser of $3,000 or the amount of income derived by the person from 39 calendar days of such service. Under this bill, the subtraction is the lesser of $5,000 or the amount of income derived from 39 calendar days of National Guard service. The income tax subtraction will continue to be available only to persons in the ranks of O3 and below.

The provisions of the bill apply to taxable years beginning on or after January 1, 2016.

FULL TEXT

• 12/03/15  House: Prefiled and ordered printed; offered 01/13/16 16100312D  pdf | impact statement

HISTORY

• 12/03/15  House: Prefiled and ordered printed; offered 01/13/16 16100312D
• 12/03/15  House: Referred to Committee on Finance
• 02/02/16  House: Assigned Finance sub: Subcommittee #1
• 02/03/16  House: Subcommittee recommends continuing to 2017 by voice vote
• 02/08/16  House: Continued to 2017 in Finance by voice vote