VirginiaHB19622025 Regular SessionHouse

Income tax, state; creates nonfamily adoption tax credit.

Sponsored By: Anne Ferrell Tata (Republican)

Failed

Summary

Income tax; nonfamily adoption tax credit. Creates the nonfamily adoption tax credit as a $4,000 nonrefundable tax credit for taxable years 2025 through 2029 for an individual or married persons who, during the taxable year, finalize a legal nonfamily adoption as defined in the bill. The bill limits the aggregate amount of credits allowable to $5 million per taxable year with credits allocated by the Department of Taxation on a first-come, first-served basis.

Finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Anne Ferrell Tata

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 5 • No: 2

House vote • 1/28/2025

Subcommittee recommends laying on the table

Yes: 5 • No: 2

Actions Timeline

  1. Left in Finance

    2/4/2025House
  2. Subcommittee recommends laying on the table (5-Y 2-N)

    1/28/2025House
  3. Assigned Finance sub: Subcommittee #2

    1/24/2025House
  4. Impact statement from TAX (HB1962)

    1/20/2025House
  5. Referred to Committee on Finance

    1/6/2025House
  6. Prefiled and ordered printed; Offered 01-13-2025 25102547D

    1/6/2025House

Bill Text

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