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House Finance - Subcommittee #2 Committee

Chair: Bennett-Parker, Elizabeth

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Meeting Date & Time:

01/21/2025 04:00 PM

Location:

House South Subcommittee Room - 210

Testimony:

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Additional Resource(s):

Public Comments

Video:

Archived

Committee Clerk:

804-698-1947 - Vonny Powell, Clerk

DLS Contact:

(804) 698 - 1863 - Rebecca Schultz, Attorney

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Block 1

Bill(s)	Patron
HB1572	Ware	Cigars; TAX to collect data on number sold with sales price equal or greater than $1.50, report.
Summary: A BILL to direct the Department of Taxation to collect data on the number of cigars sold in the Commonwealth with a sales price equal to or greater than $1.50.
Fiscal Impact
Related Bills: SB1162 (McDougle) - Tobacco products; caps statutory tax rate imposed on selling or distributing of cigars, etc.
Subcommittee #2
Subcommittee recommends reporting with substitute (8-Y 0-N)
HB1581	Ballard	Firearm safety device tax credit; defines commercial retailer.
Summary: A BILL to amend and reenact Â§ 58.1-339.14 of the Code of Virginia, relating to firearm safety device tax credit; defines commercial retailer.
Fiscal Impact
Related Bills: HB2595 (Singh) - Firearm safety device tax credit; defines commercial retailer. SB1389 (Srinivasan) - Firearm safety device tax credit; defines commercial retailer.
Subcommittee #2
Subcommittee recommends incorporating into HB2595 (Voice Vote)
HB1701	Bulova	Income tax; housing opportunity tax credit; sunset extended.
Summary: A BILL to amend and reenact Â§Â§ 58.1-439.29 and 58.1-439.30 of the Code of Virginia, relating to income tax; Virginia housing opportunity tax credit; sunset extended.
Fiscal Impact
Subcommittee #2
Subcommittee recommends reporting and referred to Appropriations (7-Y 0-N 1-A)
HB1729	Delaney	RS & UT; exemption for aircraft components, extends sunset.
Summary: An Act to amend and reenact Â§ 58.1-609.10 of the Code of Virginia, relating to sales and use tax exemption; aircraft components.
Fiscal Impact
Related Bills: SB942 (DeSteph) - RS & UT; exemption for aircraft components, extends sunset.
Subcommittee #2
Subcommittee recommends reporting with substitute (8-Y 0-N)
HB1997	McNamara	Income tax, state; pass-through entities, sunset.
Summary: A BILL to amend and reenact Â§ 58.1-390.3 of the Code of Virginia, relating to income tax; pass-through entities; sunset.
Fiscal Impact
Subcommittee #2
Subcommittee recommends reporting (6-Y 2-N)
HB2048	Anthony	Virginia Housing Trust Fund; geographic equity impact assessment.
Summary: A BILL to amend and reenact Â§ 36-142 of the Code of Virginia, relating to Virginia Housing Trust Fund; geographic equity impact assessment.
Fiscal Impact
Subcommittee #2
Subcommittee recommends reporting with substitute and referring to Appropriations (5-Y 2-N)
HB2114	Keys-Gamarra	Collection of state taxes; period of limitations on collection.
Summary: A BILL to amend and reenact Â§ 58.1-1802.1 of the Code of Virginia, relating to Department of Taxation; collection of state taxes; period of limitations on collection.
Fiscal Impact
Subcommittee #2
Subcommittee recommends reporting (5-Y 3-N)
HB2248	Runion	Retail Sales and Use Tax; removes sunset for aircraft components.
Summary: A BILL to amend and reenact Â§ 58.1-609.10 of the Code of Virginia, relating to retail sales and use tax; aircraft components.
Fiscal Impact
Related Bills: SB942 (DeSteph) - RS & UT; exemption for aircraft components, extends sunset.
Subcommittee #2
Subcommittee recommends incorporating into HB1729 (Voice Vote)

Block 2

Bill(s)	Patron
HB2264	Tran	Taxation, Department of; repealing Virginia Free File Tax program.
Summary: An Act to amend and reenact Â§ 58.1-202.3 of the Code of Virginia and to repeal Chapter 535 of the Acts of Assembly of 2010, relating to Department of Taxation; free tax filing program.
Fiscal Impact
Related Bills: SB1306 (McPike) - Taxation, Department of; repealing Virginia Free File Tax program.
General Government and Capital Outlay Subcommittee
Subcommittee recommends reporting (8-Y 0-N)
HB2336	Batten	Retail Sales and Use Tax; exempts gold, silver, or platinum bullion, extends sunset.
Summary: A BILL to amend and reenact Â§ 58.1-609.1 of the Code of Virginia, relating to retail sales and use tax; exemptions; gold, silver, or platinum bullion; sunset.
Fiscal Impact
Related Bills: SB1321 (French) - Retail Sales and Use Tax; exempts gold, silver, or platinum bullion, extends sunset.
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 3-N)
HB2382	Higgins	Land preservation tax credit; maximum amount increase.
Summary: A BILL to amend and reenact Â§ 58.1-512 of the Code of Virginia, relating to land preservation tax credit.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 3-N)
HB2549	Clark	Income tax, state; creation of currently not collectible status.
Summary: A BILL to amend and reenact Â§Â§ 58.1-351, 58.1-1805, and 58.1-1817 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 58.1-1802.3, relating to individual income taxes; creation of currently not collectible status.
Fiscal Impact
Related Bills: HB2667 (Taylor) - Income tax, state; creation of currently not collectible status.
Subcommittee #2
Subcommittee recommends reporting with substitute (5-Y 3-N)
HB2595	Singh	Firearm safety device tax credit; defines commercial retailer.
Summary: An Act to amend and reenact Â§ 58.1-339.14 of the Code of Virginia, relating to firearm safety device tax credit; defines commercial retailer.
Fiscal Impact
Related Bills: HB1581 (Ballard) - Firearm safety device tax credit; defines commercial retailer. SB1389 (Srinivasan) - Firearm safety device tax credit; defines commercial retailer.
Subcommittee #2
Subcommittee recommends reporting with substitute (8-Y 0-N)
HB2643	McNamara	Estimated tax; failure by individual, trust, or estate to pay.
Summary: A BILL to amend and reenact Â§ 58.1-492 of the Code of Virginia, relating to estimated tax; failure by individual, trust, or estate to pay.
Fiscal Impact
Related Bills: SB1410 (Jordan) - Estimated tax; failure by individual, trust, or estate to pay.
Subcommittee #2
Subcommittee recommends reporting (8-Y 0-N)
HB2646	Morefield	Income tax, state; eligibility of companies for apportionment modification.
Summary: A BILL to amend and reenact Â§Â§ 58.1-405.1 and 58.1-408 of the Code of Virginia, relating to income tax; eligibility of companies for apportionment modification; certification by the Virginia Economic Development Partnership Authority.
Fiscal Impact
HB2653	Bennett-Parker	Qualified equity and subordinated debt investments tax credit; sunset.
Summary: An Act to amend and reenact Â§ 58.1-339.4 of the Code of Virginia, relating to qualified equity and subordinated debt investments tax credit; sunset.
Fiscal Impact
Subcommittee #2
Subcommittee recommends reporting (8-Y 0-N)
HB2667	Taylor	Income tax, state; creation of currently not collectible status.
Summary: A BILL to amend and reenact Â§Â§ 58.1-351, 58.1-455, 58.1-1802.1, 58.1-1805, and 58.1-1817 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 58.1-1802.3, relating to individual income taxes; creation of currently not collectible status.
Fiscal Impact
Related Bills: HB2549 (Clark) - Income tax, state; creation of currently not collectible status.
Subcommittee #2
Subcommittee recommends incorporating into HB2549 (Voice Vote)

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Virginia House of Delegates Committee Agendas

House Finance - Subcommittee #2 Committee

Chair: Bennett-Parker, Elizabeth

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Virginia House of Delegates Committee Agendas

House Finance - Subcommittee #2 Committee Chair: Bennett-Parker, Elizabeth

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House Finance - Subcommittee #2 Committee

Chair: Bennett-Parker, Elizabeth