Virginia House Bill 273 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 11 2022 - 25% progression, died in chamber
Action: 2022-02-02 - Failed to report (defeated) in Finance (8-Y 13-N)
Text: Latest bill text (Prefiled) [HTML]

Income tax; subtractions and deductions related to Paycheck Protection Program loans and Rebuild Virginia program grants. Provides that certain income tax subtractions and deductions for business expenses funded by federal Paycheck Protection Program loans and for grant funds received through the Rebuild Virginia program shall be available for taxable year 2019 and shall not be subject to any limit for taxable years 2019 and 2020. Under current law, such subtractions and deductions are available only for taxable year 2020 and are subject to a limit of $100,000. The effect of making such subtractions and deductions available for taxable year 2019 would be to allow certain taxpayers whose fiscal year does not match the calendar year to claim such subtractions and deductions.

Income tax, state; subtractions and deductions related to Paycheck Protection Program loans.

Del. Joseph McNamara [R]

2022-02-02 - House - House: Failed to report (defeated) in Finance (8-Y 13-N) (Y: 8 N: 13 NV: 0 Abs: 1) [FAIL]

Date	Chamber	Action
2022-02-02	House	Failed to report (defeated) in Finance (8-Y 13-N)
2022-01-27	House	Assigned Finance sub: Subcommittee #1
2022-01-11	House	Referred to Committee on Finance
2022-01-11	House	Prefiled and ordered printed; offered 01/12/22 22103875D

Chapter	Article	Section	Citation Type	Statute Text
58	1	322.02	(n/a)	See Bill Text
58	1	322.03	(n/a)	See Bill Text
58	1	402	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+HB273
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB273+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?221+oth+HB273F161+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?221+vot+H10V0044+HB0273