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House Finance - Subcommittee #2 Committee

Chair: Bennett-Parker, Elizabeth

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Meeting Date & Time:

01/28/2025 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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Tax Administration

Bill(s)	Patron
HB1550	McNamara	Taxation; rate of interest.
Summary: A BILL to amend and reenact Â§ 58.1-15 of the Code of Virginia, relating to taxation; rate of interest.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)
HB1979	Hernandez	Wage garnishment; recovery of certain improper payment, etc., state tax debt.
Summary: A BILL to amend and reenact Â§Â§ 2.2-804, 8.01-512.3, 8.01-515, 34-3, and 34-29 of the Code of Virginia, relating to wage garnishment; state tax debt.
Fiscal Impact
Related Bills: HB2284 (Coyner) - Wage garnishment; state tax debt.
Subcommittee #2
Subcommittee recommends reporting with substitute (5-Y 2-N)
HB2062	Garrett	Income tax, state; eliminates sunset date, veteran student loan forgiveness.
Summary: A BILL to amend and reenact Â§ 58.1-321 of the Code of Virginia, relating to income tax exclusion; veteran student loan forgiveness.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)
HB2567	Leftwich	Income tax, state; subtraction for military benefits received by members of uniformed services.
Summary: A BILL to direct the Department of Taxation to determine the fiscal impact of extending the income tax subtraction for military benefits to members of the uniformed services; report.
Fiscal Impact
HB2681	Ballard	Net operating losses; TAX, et al., to analyze treatment in Va. when compared to other states.
Summary: A BILL to direct the Department of Taxation to convene a work group to analyze the treatment of net operating losses in Virginia when compared to other states; report.
Fiscal Impact
Related Bills: SB1426 (Bagby) - Income tax, corporate and state; defines "entire net income."
Subcommittee #2
Subcommittee recommends reporting with substitute (7-Y 0-N)
HB2717	Walker	Unclaimed property; application to delinquent taxes.
Summary: A BILL to amend the Code of Virginia by adding in Article 1 of Chapter 18 of Title 58.1 a section numbered 58.1-1819.1, relating to unclaimed property; application to delinquent taxes.
Fiscal Impact
Subcommittee #2
Subcommittee recommends striking from the docket (7-Y 0-N)

Expansion of Existing Tax Credits, Deductions, and Subtractions

Bill(s)	Patron
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)
HB2108	Herring	Motion picture production; increases aggregate cap on tax credit.
Summary: A BILL to amend and reenact Â§ 58.1-439.12:03 of the Code of Virginia, relating to motion picture production tax credit.
Fiscal Impact
Subcommittee #2
Subcommittee recommends reporting and referring to Appropriations (7-Y 0-N)
HB2524	Fowler	Income tax, state; subtractions of military benefits.
Summary: A BILL to amend and reenact Â§ 58.1-322.02 of the Code of Virginia, relating to taxable income; subtractions; military benefits.
Fiscal Impact
Related Bills: HB2700 (Obenshain) - Income tax, state; subtractions of military benefits. SB865 (Reeves) - Income tax, state; subtractions of military benefits.
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 1-N)
HB2700	Obenshain	Income tax, state; subtractions of military benefits.
Summary: A BILL to amend and reenact Â§ 58.1-322.02 of the Code of Virginia, relating to taxable income; subtractions; military benefits.
Fiscal Impact
Related Bills: HB2524 (Fowler) - Income tax, state; subtractions of military benefits. SB865 (Reeves) - Income tax, state; subtractions of military benefits.
Subcommittee #2
Subcommittee recommends incorporating into HB2524-Fowler (Voice Vote)
HB2740	Lopez	Asphalt recycling equipment; tax credit for purchase of reprocessing existing asphalt materials.
Summary: A BILL to amend the Code of Virginia by adding a section numbered 58.1-439.7:1, relating to tax credit; purchase of mobile asphalt recycling equipment for reprocessing existing asphalt materials from pavements and roadways; report.
Fiscal Impact
Related Bills: SB1464 (Marsden) - Asphalt recycling equipment; tax credit for purchase of reprocessing existing asphalt materials.
Subcommittee #2
Subcommittee recommends laying on the table (7-Y 0-N)
HB2759	Earley	Education improvement scholarships tax credits; removes sunset date.
Summary: A BILL to amend and reenact Â§ 58.1-439.26 of the Code of Virginia and the second enactment of Chapter 2 of the Acts of Assembly of 2024, Special Session I, relating to education improvement scholarships tax credits; sunset repeal.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)
HB2762	Earley	Education improvement scholarships tax credit; guidelines for scholarship foundations.
Summary: A BILL to amend and reenact Â§ 58.1-439.28, as it is currently effective and as it shall become effective, of the Code of Virginia, relating to education improvement scholarships tax credit; guidelines for scholarship foundations; scholarship amount.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)

New Tax Credits, Deductions, and Subtractions

Bill(s)	Patron
HB1591	Kent	Tax credit; veterinary care for retired police canines.
Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to tax credit; veterinary care for retired police canines.
Fiscal Impact
HB1741	Reid	Venison donation tax credit.
Summary: A BILL to amend and reenact Â§ 3.2-5144 of the Code of Virginia and to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to income tax credit; venison donation.
Fiscal Impact
HB1962	Tata	Income tax, state; creates nonfamily adoption tax credit.
Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to income tax; nonfamily adoption tax credit.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)
HB2076	Garrett	Income tax, state; subtraction for volunteer firefighters and emergency medical services personnel.
Summary: A BILL to amend and reenact Â§ 58.1-322.02 of the Code of Virginia, relating to Virginia taxable income; subtractions; volunteer firefighters and volunteer emergency medical services personnel.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)
HB2086	Shin	Income tax, state; energy efficient homes tax credits.
Summary: A BILL to amend the Code of Virginia by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:13, relating to income tax; energy efficient homes tax credits.
Fiscal Impact
HB2262	Delaney	Income tax, state; establishes organ donation leave tax credit.
Summary: A BILL to amend the Code of Virginia by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:13, relating to organ donation leave tax credit.
Fiscal Impact
HB2305	Earley	Income tax, state; eligible conception tax credit.
Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to income tax; eligible conception tax credit.
Fiscal Impact
HB2345	Obenshain	Child day-care facility investment and child day-care expense reimbursement; income tax credits.
Summary: A BILL to amend and reenact Â§ 58.1-439.4 of the Code of Virginia, relating to child day-care facility investment and child day-care expense reimbursement tax credits.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)
HB2506	Runion	Income tax, state; energy-efficient homes tax credits.
Summary: A BILL to amend the Code of Virginia by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:13, relating to income tax; energy-efficient homes tax credits.
Fiscal Impact
Subcommittee #2
Subcommittee recommends incorporating into HB2086-Shin (Voice Vote)
HB2514	Lopez	Income tax, state; tax credit for eligible small business advertising in local newspapers and media.
Summary: A BILL to amend the Code of Virginia by adding in Article 13 of Chapter 3 of Title 58.1 a section numbered 58.1-439.12:13, relating to income tax credit; advertising in local newspapers and media.
Fiscal Impact
HB2519	Taylor	Income tax, state; deductions for in vitro fertilization.
Summary: A BILL to amend and reenact Â§ 58.1-322.03 of the Code of Virginia, relating to income tax deductions; in vitro fertilization.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 0-N)
HB2575	Leftwich	Income tax, state; subtraction for retirement income of certain federal employees.
Summary: A BILL to amend and reenact Â§ 58.1-322.02 of the Code of Virginia, relating to income tax; subtraction; retirement income of certain federal employees.
Fiscal Impact
Related Bills: SB943 (DeSteph) - Income tax, state; subtraction for retirement income of certain federal employees.
HB2580	Cordoza	Income tax, state; disability income.
Summary: A BILL to amend and reenact Â§ 58.1-322.02 of the Code of Virginia, relating to Virginia income tax subtractions; disability income.
Fiscal Impact
HB2639	Walker	Income tax, state; creates alternative schooling and public school tax credits.
Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 sections numbered 58.1-339.15 and 58.1-339.16, relating to income tax; alternative schooling and public school tax credits.
Fiscal Impact
Related Bills: SB1085 (Craig) - Income tax, state; creates alternative schooling and public school tax credits.
Subcommittee #2
Subcommittee recommends reporting with amendment(s) (2-Y 4-N); Subcommittee failed to recommend reporting (3-Y 4-N)
HB2707	Runion	Income tax, state; toll charges for disabled veterans tax credit.
Summary: A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.15, relating to income tax; toll charges for disabled veterans tax credit.
Fiscal Impact
Subcommittee #2
Subcommittee recommends laying on the table (5-Y 2-N)

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Virginia House of Delegates Committee Agendas

House Finance - Subcommittee #2 Committee

Chair: Bennett-Parker, Elizabeth

Tax Administration

Expansion of Existing Tax Credits, Deductions, and Subtractions

New Tax Credits, Deductions, and Subtractions

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Virginia House of Delegates Committee Agendas

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

Tax Administration

Expansion of Existing Tax Credits, Deductions, and Subtractions

New Tax Credits, Deductions, and Subtractions

Choose Agenda Information to View:

Choose a Calendar type:

House Finance - Subcommittee #2 Committee

Chair: Bennett-Parker, Elizabeth