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1998 SESSION
SB 638 Family income tax credit.
Introduced by: Joseph V. Gartlan, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Earned income tax credit. Provides a $300 credit to individuals whose Virginia AGI does not exceed the maximum family Virginia AGI for each eligible child. An eligible child is one the taxpayer claims as a dependent and is 17 years of age or younger. The maximum family Virginia AGI for 1998 ranges from $11,000 for two persons in a family to $23,000 for six people. For each year thereafter the maximum family Virginia AGI shall increase three percent above the preceding year. The amount of the credit shall not exceed the taxpayer's Virginia income tax liability. The bill allows a refundable credit for individuals whose earned income does not exceed $19,000. The amount of the credit is equal to a percentage of their federal earned-income credit. For individuals earning $11,000 or less, the credit is 10 percent of the federal credit. As an individual's income increases by increments of $1,000, the amount of the state credit declines by one percent of the federal credit amount, with individuals having an income between $18,000 and $19,000 receiving a credit of two percent of the amount of the federal credit. The credit will be available for taxable years beginning on and after January 1, 2000. The measure will not become effective unless the Department of Health and Human Services determines that the tax credit qualifies under the Commonwealth's TANF Plan.
FULL TEXT
- 01/26/98 Senate: Presented & ordered printed 985340661 pdf
- 02/15/98 Senate: Committee substitute printed 985429661-S1 pdf
- 02/18/98 Senate: Floor substitute printed 985431713-S3 (Miller, K.G.) pdf
- 02/18/98 Senate: Floor substitute printed 985433743-S2 (Stosch) pdf
- 03/04/98 House: Committee substitute printed 989674176-H1 pdf
- 03/04/98 House: Floor substitute printed 989782346-H2 (McClure) pdf
HISTORY
- 01/26/98 Senate: Presented & ordered printed 985340661
- 01/26/98 Senate: Referred to Committee on Finance
- 02/12/98 Senate: Reported from Finance with substitute (9-Y 7-N)
- 02/13/98 Senate: Constitutional reading dispensed (37-Y 0-N)
- 02/13/98 Senate: VOTE: CONST. RDG. DISPENSED R (37-Y 0-N)
- 02/15/98 Senate: Committee substitute printed 985429661-S1
- 02/16/98 Senate: Read second time
- 02/16/98 Senate: Passed by for the day
- 02/17/98 Senate: Read second time
- 02/17/98 Senate: Passed by temporarily
- 02/17/98 Senate: Passed by for the day
- 02/18/98 Senate: Read second time
- 02/18/98 Senate: Reading of substitute waived
- 02/18/98 Senate: Committee substitute rejected (18-Y 22-N)
- 02/18/98 Senate: VOTE: COMMITTEE SUBSTITUTE V (18-Y 22-N)
- 02/18/98 Senate: Substitute by Sen. K. G. Miller offered
- 02/18/98 Senate: Substitute by Sen. K. G. Miller withdrawn
- 02/18/98 Senate: Floor substitute printed 985431713-S3 (Miller, K.G.)
- 02/18/98 Senate: Reading of substitute waived
- 02/18/98 Senate: Substitute by Sen. Stosch agreed to 985433743-S2
- 02/18/98 Senate: Floor substitute printed 985433743-S2 (Stosch)
- 02/18/98 Senate: Engrossed by Senate - fl. sub. 985433743-S2
- 02/18/98 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/18/98 Senate: VOTE: CONST. RDG. DISPENSED R (38-Y 0-N)
- 02/18/98 Senate: Passed Senate (40-Y 0-N)
- 02/18/98 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 02/18/98 Senate: Communicated to House
- 02/19/98 House: Placed on Calendar
- 02/20/98 House: Read first time
- 02/20/98 House: Referred to Committee on Finance
- 03/03/98 House: Reported from Finance with sub. (21-Y 3-N)
- 03/04/98 House: Read second time
- 03/04/98 House: Committee substitute printed 989674176-H1
- 03/04/98 House: Constitutional reading dispensed
- 03/04/98 House: Floor Sub offered by Mr McClure 989782346-H2
- 03/04/98 House: Floor substitute printed 989782346-H2 (McClure)
- 03/04/98 House: Motion for pending question agreed to
- 03/04/98 House: Pending question ordered
- 03/04/98 House: Committee substitute agreed to 989674176-H1 (65-Y 28-N)
- 03/04/98 House: VOTE: ADOPTION (65-Y 28-N)
- 03/04/98 House: Motion for pending question agreed to
- 03/04/98 House: Pending question ordered
- 03/04/98 House: Engrossed by House - com. sub. 989674176-H1
- 03/04/98 House: Passed House with substitute (72-Y 21-N)
- 03/04/98 House: VOTE: PASSAGE (72-Y 21-N)
- 03/04/98 Senate: No action taken prior to 12 Midnight on 3/4/98
- 03/04/98 Senate: Failed to pass in Senate