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2022 SESSION
HB 1006 Income tax, state and corporate; deductions for business interest.
Introduced by: Emily M. Brewer | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (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 SB 288.
FULL TEXT
- 01/12/22 House: Prefiled and ordered printed; offered 01/12/22 22102127D pdf | impact statement
- 02/02/22 House: Committee substitute printed 22105587D-H1 pdf | impact statement
- 02/11/22 House: Committee substitute printed 22106353D-H2 pdf | impact statement
- 03/07/22 House: Bill text as passed House and Senate (HB1006ER) pdf | impact statement
- 04/11/22 Governor: Acts of Assembly Chapter text (CHAP0648) pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
- House committee, floor amendments and substitutes offered
HISTORY
- 01/12/22 House: Prefiled and ordered printed; offered 01/12/22 22102127D
- 01/12/22 House: Referred to Committee on Finance
- 01/27/22 House: Assigned Finance sub: Subcommittee #1
- 01/31/22 House: Subcommittee recommends reporting with substitute (6-Y 2-N)
- 02/02/22 House: Committee substitute printed 22105587D-H1
- 02/02/22 House: Reported from Finance with substitute (15-Y 6-N)
- 02/02/22 House: Referred to Committee on Appropriations
- 02/11/22 House: Reported from Appropriations with substitute (18-Y 0-N)
- 02/11/22 House: Committee substitute printed 22106353D-H2
- 02/13/22 House: Read first time
- 02/14/22 House: Read second time
- 02/14/22 House: Committee on Finance substitute rejected 22105587D-H1
- 02/14/22 House: Committee on Appropriations substitute agreed to 22106353D-H2
- 02/14/22 House: Engrossed by House - committee substitute HB1006H2
- 02/15/22 House: Read third time and passed House (89-Y 9-N)
- 02/15/22 House: VOTE: Passage (89-Y 9-N)
- 02/16/22 Senate: Constitutional reading dispensed
- 02/16/22 Senate: Referred to Committee on Finance and Appropriations
- 03/01/22 Senate: Reported from Finance and Appropriations (15-Y 0-N)
- 03/02/22 Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/02/22 Senate: Read third time
- 03/02/22 Senate: Passed Senate (40-Y 0-N)
- 03/07/22 House: Enrolled
- 03/07/22 House: Bill text as passed House and Senate (HB1006ER)
- 03/08/22 House: Signed by Speaker
- 03/08/22 Senate: Signed by President
- 03/22/22 House: 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: Approved by Governor-Chapter 648 (effective 7/1/22)
- 04/11/22 Governor: Acts of Assembly Chapter text (CHAP0648)