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2021 SESSION
HB 1771 Income tax, state and corporate; tax credit for employers of Nat'l Guard members, etc.
Introduced by: Nicholas J. Freitas | all patrons ... notes | add to my profiles
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.
FULL TEXT
- 12/28/20 House: Prefiled and ordered printed; offered 01/13/21 21100645D pdf | impact statement
- 01/27/21 House: Committee substitute printed 21103137D-H1 pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
HISTORY
- 12/28/20 House: Prefiled and ordered printed; offered 01/13/21 21100645D
- 12/28/20 House: Referred to Committee on Finance
- 01/16/21 House: Assigned Finance sub: Subcommittee #2
- 01/26/21 House: Subcommittee recommends reporting with substitute (10-Y 0-N)
- 01/26/21 House: Subcommittee recommends referring to Committee on Appropriations
- 01/27/21 House: Reported from Finance with substitute (22-Y 0-N)
- 01/27/21 House: Committee substitute printed 21103137D-H1
- 01/27/21 House: Referred to Committee on Appropriations
- 01/27/21 House: Assigned App. sub: Commerce Agriculture & Natural Resources
- 01/29/21 House: Subcommittee recommends laying on the table (5-Y 2-N)
- 02/05/21 House: Left in Appropriations