VirginiaHB2612025 Regular SessionHouse

Income tax, state; conformity to Internal Revenue Code.

Sponsored By: Joseph P. McNamara (Republican)

Failed

Summary

Income tax; rolling conformity. Provides that when Virginia does not conform on a rolling basis to federal tax laws due to any changes in a single act of Congress with an impact of more than $15 million on revenues in the year in which the amendment was enacted or any of the next four years, such nonconformity shall not be considered for purposes of calculating the nonconformity threshold for all amendments in a year with a cumulative projected impact of more than $75 million in the year in which the amendments were enacted or any of the next four years.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Joseph P. McNamara

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 134 • No: 0

Senate vote • 2/27/2024

Continued to 2025 in Finance and Appropriations

Yes: 15 • No: 0

House vote • 2/13/2024

VOTE: Block Vote Passage

Yes: 98 • No: 0

House vote • 2/7/2024

Reported from Finance with amendment(s)

Yes: 21 • No: 0

Actions Timeline

  1. Left in Finance and Appropriations

    11/19/2024Senate
  2. Continued to 2025 in Finance and Appropriations (15-Y 0-N)

    2/27/2024Senate
  3. Impact statement from TAX (HB261E)

    2/18/2024House
  4. Referred to Committee on Finance and Appropriations

    2/14/2024Senate
  5. Constitutional reading dispensed (on 1st reading)

    2/14/2024Senate
  6. VOTE: Block Vote Passage (99-Y 0-N)

    2/13/2024House
  7. Read third time and passed House BLOCK VOTE (99-Y 0-N)

    2/13/2024House
  8. Printed as engrossed 24101430D-E

    2/12/2024House
  9. Engrossed by House as amended HB261E

    2/12/2024House
  10. Committee amendment agreed to

    2/12/2024House
  11. Read second time

    2/12/2024House
  12. Read first time

    2/9/2024House
  13. Reported from Finance with amendment(s) (21-Y 0-N)

    2/7/2024House
  14. Impact statement from TAX (HB261)

    1/14/2024House
  15. Referred to Committee on Finance

    1/5/2024House
  16. Prefiled and ordered printed; offered 01/10/24 24101430D

    1/5/2024House

Bill Text

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