VirginiaSB4592025 Regular SessionSenate

Income tax, state; rolling conformity.

Sponsored By: David W. Marsden (Democratic)

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

  • David W. Marsden

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 13 • No: 2

Senate vote • 2/7/2024

Continued to 2025 in Finance and Appropriations

Yes: 13 • No: 2

Actions Timeline

  1. Left in Finance and Appropriations

    11/19/2024Senate
  2. Continued to 2025 in Finance and Appropriations (13-Y 2-N)

    2/7/2024Senate
  3. Senate subcommittee amendments and substitutes offered

    2/6/2024Senate
  4. Impact statement from TAX (SB459)

    1/16/2024Senate
  5. Referred to Committee on Finance and Appropriations

    1/9/2024Senate
  6. Prefiled and ordered printed; offered 01/10/24 24101327D

    1/9/2024Senate

Bill Text

  • Introduced

    1/11/2024

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