SEARCH SITE
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
HB 95 Income tax, corporate; addback for Captive REIT dividends.
Introduced by: R. Lee Ware | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Corporate income tax; addback for Captive REIT dividends. Provides that the voting power or value of the beneficial interests or shares in a real estate investment trust (REIT) that is held in a segregated asset account of a life insurance corporation shall not be taken into consideration when determining if the REIT is a Captive REIT for corporate income tax purposes. Under current law, no deduction from corporate income is allowed for dividends paid by a Captive REIT. The bill modifies current law for purposes of determining whether a REIT is a Captive REIT that will not be allowed a deduction for the dividends it pays.
The bill is effective for taxable year 2016 and thereafter.
FULL TEXT
- 12/13/15 House: Prefiled and ordered printed; offered 01/13/16 16100433D pdf | impact statement
- 02/29/16 House: Bill text as passed House and Senate (HB95ER) pdf | impact statement
- 03/11/16 Governor: Acts of Assembly Chapter text (CHAP0342) pdf
HISTORY
- 12/13/15 House: Prefiled and ordered printed; offered 01/13/16 16100433D
- 12/13/15 House: Referred to Committee on Finance
- 01/15/16 House: Assigned Finance sub: Subcommittee #1
- 01/27/16 House: Subcommittee recommends reporting (9-Y 0-N)
- 02/01/16 House: Reported from Finance (22-Y 0-N)
- 02/02/16 House: Read first time
- 02/03/16 House: Read second time and engrossed
- 02/04/16 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 02/04/16 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/05/16 Senate: Constitutional reading dispensed
- 02/05/16 Senate: Referred to Committee on Finance
- 02/23/16 Senate: Reported from Finance (15-Y 0-N)
- 02/24/16 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/25/16 Senate: Read third time
- 02/25/16 Senate: Passed Senate (40-Y 0-N)
- 02/29/16 House: Enrolled
- 02/29/16 House: Bill text as passed House and Senate (HB95ER)
- 02/29/16 House: Signed by Speaker
- 03/03/16 Senate: Signed by President
- 03/04/16 House: Enrolled Bill communicated to Governor on 3/4/16
- 03/04/16 Governor: Governor's Action Deadline Midnight, March 11, 2016
- 03/11/16 Governor: Approved by Governor-Chapter 342 (effective 7/1/16)
- 03/11/16 Governor: Acts of Assembly Chapter text (CHAP0342)