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Developed and maintained by the Division of Legislative Automated Systems.
2021 SPECIAL SESSION I
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 PASSED: (all summaries)
Conformity of the Commonwealth's taxation system with the Internal Revenue Code. Advances Virginia's date of conformity with the Internal Revenue Code from December 31, 2019, to December 31, 2020. The bill deconforms from the 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 from 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, the limitation on business interest, and certain loan forgiveness and other business financial assistance. The bill provides an individual and corporate income tax deduction or subtraction, as applicable, of up to $100,000 for Rebuild Virginia grants and certain amounts related to Paycheck Protection Program loans. The bill contains an emergency clause and is identical to HB 1935.
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
- 02/10/21 House: Committee substitute printed 21200004D-H1 pdf
- 02/27/21 Senate: Conference substitute printed 21200693D-S2 pdf
- 03/09/21 Senate: Bill text as passed Senate and House (SB1146ER) pdf | impact statement
- 03/15/21 Governor: Acts of Assembly Chapter text (CHAP0118) pdf
AMENDMENTS
- House committee, floor amendments and substitutes offered
- Senate committee, floor amendments and substitutes offered
- Senate amendments
- Senate amendments not adopted
- Conference amendments
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: Emergency clause deleted
- 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
- 02/10/21 House: Reported from Finance with substitute (13-Y 9-N)
- 02/10/21 House: Committee substitute printed 21200004D-H1
- 02/12/21 House: Read second time
- 02/15/21 House: Read third time
- 02/15/21 House: Committee substitute agreed to 21200004D-H1
- 02/15/21 House: Engrossed by House - committee substitute SB1146H1
- 02/15/21 House: Passed House with substitute (55-Y 44-N)
- 02/15/21 House: VOTE: Adoption (55-Y 44-N)
- 02/17/21 Senate: House substitute rejected by Senate (2-Y 37-N)
- 02/18/21 House: House insisted on substitute
- 02/18/21 House: House requested conference committee
- 02/19/21 Senate: Senate acceded to request (38-Y 0-N)
- 02/19/21 Senate: Conferees appointed by Senate
- 02/19/21 Senate: Senators: Howell, Barker, Newman
- 02/19/21 House: Conferees appointed by House
- 02/19/21 House: Delegates: Watts, Torian, Knight
- 02/27/21 Conference: Amended by conference committee
- 02/27/21 Senate: Conference substitute printed 21200693D-S2
- 02/27/21 Senate: Conference report agreed to by Senate (39-Y 0-N)
- 02/27/21 House: Conference report agreed to by House (95-Y 2-N)
- 02/27/21 House: VOTE: Agreed To (95-Y 2-N)
- 02/27/21 House: Emergency clause added
- 03/09/21 Senate: Enrolled
- 03/09/21 Senate: Bill text as passed Senate and House (SB1146ER)
- 03/09/21 Senate: Signed by President
- 03/11/21 House: Signed by Speaker
- 03/15/21 Senate: Enrolled Bill Communicated to Governor on March 15, 2021
- 03/15/21 Governor: Governor's Action Deadline 11:59 p.m., March 31, 2021
- 03/15/21 Governor: Approved by Governor-Chapter 118 (effective 3/15/21)
- 03/15/21 Governor: Acts of Assembly Chapter text (CHAP0118)