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2021 SESSION

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SB 1286 Income tax, state; rate increase, funding for schools and law-enforcement officer salaries.

Introduced by: R. Creigh Deeds | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; rate increase; funding for schools and law-enforcement officer salaries. Increases from 5.75 percent to 5.9 percent the income tax rate on income over $150,000. Under current law, the top marginal rate of 5.75 percent applies to income over $17,000. The rate change applies starting with taxable year 2021. The bill requires revenue from the increase to be appropriated for nonrecurring capital expenditures of school divisions and salary increases for state and state-supported law-enforcement officers.

FULL TEXT

• 01/11/21  Senate: Prefiled and ordered printed; offered 01/13/21 21101675D  pdf | impact statement

HISTORY

• 01/11/21  Senate: Prefiled and ordered printed; offered 01/13/21 21101675D
• 01/11/21  Senate: Referred to Committee on Finance and Appropriations
• 02/06/21  Senate: Left in Finance and Appropriations