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2024 SESSION
HB 1160 Independent contractors; establishes portable benefit accounts and nonrefundable tax credit.
Introduced by: Phillip A. Scott | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Portable benefit accounts; tax credit. Authorizes a Virginia resident who has worked as an independent contractor to establish a portable benefit account. Under the bill, a portable benefit account offered through and administered by a bank, credit union, or other depository institution and distributions from the account may be used for the payment of various health-related costs. The bill establishes a nonrefundable tax credit for taxable years 2024 through 2028 for individuals who contribute to a portable benefit account.
FULL TEXT
- 01/10/24 House: Prefiled and ordered printed; offered 01/10/24 24100554D pdf | impact statement
- 02/07/24 House: Committee substitute printed 24105266D-H1 pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
HISTORY
- 01/10/24 House: Prefiled and ordered printed; offered 01/10/24 24100554D
- 01/10/24 House: Referred to Committee on Finance
- 02/02/24 House: Assigned Finance sub: Subcommittee #1
- 02/05/24 House: Subcommittee recommends reporting with substitute (7-Y 1-N)
- 02/05/24 House: Subcommittee recommends referring to Committee on Appropriations
- 02/07/24 House: Committee substitute printed 24105266D-H1
- 02/07/24 House: Reported from Finance with substitute (19-Y 2-N)
- 02/07/24 House: Referred to Committee on Appropriations
- 02/13/24 House: Left in Appropriations