VA HB5002 | 2020 | 1st Special Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on July 30 2020 - 25% progression, died in committee
Action: 2020-11-09 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on July 30 2020 - 25% progression, died in committee
Action: 2020-11-09 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Income tax subtraction for Paycheck Protection Plan loan forgiveness. Establishes an income tax subtraction for forgiveness of indebtedness on a loan received under the Coronavirus Aid, Relief, and Economic Security (CARES) Act through the Paycheck Protection Plan. The subtraction would be available starting in taxable year 2020.
Title
Income tax, state; subtraction for Paycheck Protection Plan loan forgiveness.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-11-09 | House | Left in Finance |
| 2020-07-30 | House | Referred to Committee on Finance |
| 2020-07-30 | House | Prefiled and ordered printed; offered 08/18/20 20200137D |
Code Citations
Virginia State Sources
| Type | Source |
|---|---|
| Summary | https://lis.virginia.gov/cgi-bin/legp604.exe?202+sum+HB5002 |
| Text | https://lis.virginia.gov/cgi-bin/legp604.exe?202+ful+HB5002+hil |
