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.
2022 SESSION
SB 288 Income tax, state and corporate; deductions for business interest.
Introduced by: Adam P. Ebbin | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Virginia taxable income; corporations; deductions; business interest. Increases from 20 percent to 30 percent the Virginia individual and corporate income tax deduction for business interest disallowed as a deduction under § 163(j) of the Internal Revenue Code for taxable years beginning on and after January 1, 2022. This bill is identical to HB 1006.
FULL TEXT
- 01/11/22 Senate: Prefiled and ordered printed; offered 01/12/22 22101948D pdf | impact statement
- 02/14/22 Senate: Printed as engrossed 22101948D-E pdf | impact statement
- 02/23/22 House: Committee substitute printed 22106923D-H1 pdf
- 03/07/22 Senate: Bill text as passed Senate and House (SB288ER) pdf | impact statement
AMENDMENTS
- House committee, floor amendments and substitutes offered
- Senate amendments
- Governor's veto explanation
HISTORY
- 01/11/22 Senate: Prefiled and ordered printed; offered 01/12/22 22101948D
- 01/11/22 Senate: Referred to Committee on Finance and Appropriations
- 02/10/22 Senate: Reported from Finance and Appropriations with amendment (16-Y 0-N)
- 02/11/22 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/14/22 Senate: Read second time
- 02/14/22 Senate: Reading of amendment waived
- 02/14/22 Senate: Committee amendment agreed to
- 02/14/22 Senate: Engrossed by Senate as amended SB288E
- 02/14/22 Senate: Printed as engrossed 22101948D-E
- 02/14/22 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/14/22 Senate: Passed Senate (40-Y 0-N)
- 02/18/22 House: Placed on Calendar
- 02/18/22 House: Read first time
- 02/18/22 House: Referred to Committee on Finance
- 02/23/22 House: Reported from Finance with substitute (21-Y 0-N)
- 02/23/22 House: Committee substitute printed 22106923D-H1
- 02/25/22 House: Read second time
- 02/28/22 House: Passed by for the day
- 03/01/22 House: Read third time
- 03/01/22 House: Committee substitute agreed to 22106923D-H1
- 03/01/22 House: Engrossed by House - committee substitute SB288H1
- 03/01/22 House: Passed House with substitute (95-Y 4-N)
- 03/01/22 House: VOTE: Passage (95-Y 4-N)
- 03/02/22 Senate: House substitute agreed to by Senate (40-Y 0-N)
- 03/02/22 Senate: Title replaced 22106923D-H1
- 03/07/22 Senate: Enrolled
- 03/07/22 Senate: Bill text as passed Senate and House (SB288ER)
- 03/08/22 Senate: Signed by President
- 03/08/22 House: Signed by Speaker
- 03/22/22 Senate: Enrolled Bill Communicated to Governor on March 22, 2022
- 03/22/22 Governor: Governor's Action Deadline 11:59 p.m., April 11, 2022
- 04/11/22 Governor: Vetoed by Governor
- 04/27/22 Senate: Motion to pass in enrolled form rejected (26-Y 14-N)
- 04/27/22 Senate: Requires 2/3 affirmative votes to pass in enrolled form
- 04/27/22 Senate: Senate sustained Governor's veto