VirginiaHB2432026 Regular SessionHouse

Corporate welfare tax; imposes on large employers a tax equal to 100% of qualified employee benefit.

Sponsored By: Joshua G. Cole (Democratic)

In Committee

Summary

Corporate welfare tax. Imposes on large employers, as defined in the bill, a corporate welfare tax equal to 100 percent of the qualified employee benefits received by any employees of such large employer residing in the Commonwealth. The bill directs the Department of Taxation to obtain identifying data for individuals receiving qualified federal benefits, as defined by the bill, from the Department of Social Services pursuant to an interagency agreement and to compare such data to employment rosters received quarterly from large employers to determine the amount of qualified federal benefits received by employees of such large employers. The bill also prohibits an employer, in connection with the selection or referral of applicants or candidates for employment, to make inquiries or otherwise seek information relating to whether such applicant receives qualified federal benefits.

Subcommittee #1

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Joshua G. Cole

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 0 • No: 0

House vote 2/11/2026

Continued to 2027 in Finance (Voice Vote)

Yes: 0 • No: 0

House vote 2/9/2026

Subcommittee recommends continuing to 2027 (Voice Vote)

Yes: 0 • No: 0

Actions Timeline

  1. Continued to 2027 in Finance (Voice Vote)

    2/11/2026House
  2. Subcommittee recommends continuing to 2027 (Voice Vote)

    2/9/2026House
  3. Fiscal Impact statement From TAX (2/8/2026 12:59 pm)

    2/8/2026House
  4. Assigned HFIN sub: Subcommittee #1

    2/5/2026House
  5. Referred to Committee on Finance

    1/8/2026House
  6. Prefiled and ordered printed; Offered 01-14-2026 26104162D

    1/8/2026House

Bill Text

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