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2021 SESSION
SB 1146 Income tax, state; conformity with the Internal Revenue Code.
Introduced by: Janet D. Howell | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Conformity of the Commonwealth's taxation system with the Internal Revenue Code; emergency. Advances Virginia's date of conformity with the Internal Revenue Code from December 31, 2019, to December 31, 2020. The bill adds exceptions to such conformity for suspension of the overall limitation on itemized deductions and the reduction in the medical expense deduction floor for taxable year 2017 and taxable years on and after January 1, 2019, and for the provisions of the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) related to the net operating loss limitation and carryback, a loss limitation applicable to taxpayers other than corporations, and the limitation on business interest. The bill contains an emergency clause.
FULL TEXT
- 01/05/21 Senate: Prefiled and ordered printed with emergency clause; offered 01/13/21 21102155D pdf
- 02/03/21 Senate: Committee substitute printed 21103832D-S1 pdf | impact statement
- 02/04/21 Senate: Printed as engrossed 21103832D-ES1 pdf | impact statement
AMENDMENTS
- Senate committee, floor amendments and substitutes offered
- Senate amendments
- Senate amendments not adopted
HISTORY
- 01/05/21 Senate: Prefiled and ordered printed with emergency clause; offered 01/13/21 21102155D
- 01/05/21 Senate: Referred to Committee on Finance and Appropriations
- 02/03/21 Senate: Reported from Finance and Appropriations with substitute (10-Y 4-N 1-A)
- 02/03/21 Senate: Committee substitute printed 21103832D-S1
- 02/03/21 Senate: Incorporates SB1394 (Petersen)
- 02/03/21 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/04/21 Senate: Read second time
- 02/04/21 Senate: Reading of substitute waived
- 02/04/21 Senate: Committee substitute agreed to 21103832D-S1
- 02/04/21 Senate: Reading of amendments waived
- 02/04/21 Senate: Amendments by Senator McDougle rejected (17-Y 22-N)
- 02/04/21 Senate: Reading of amendments waived
- 02/04/21 Senate: Amendments by Senator Newman agreed to
- 02/04/21 Senate: Engrossed by Senate - committee substitute with amendments SB1146ES1
- 02/04/21 Senate: Printed as engrossed 21103832D-ES1
- 02/04/21 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/04/21 Senate: Passed Senate (39-Y 0-N)
- 02/07/21 House: Placed on Calendar
- 02/07/21 House: Read first time
- 02/07/21 House: Referred to Committee on Finance
- 02/08/21 House: Continued to Special Session 1 in Finance by voice vote