Third-party settlement organizations; reporting of payments.
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HB 730 — Third-party settlement organizations; reporting of payments.
Last action — Approved by Governor-Chapter 248 (effective 7/1/20)
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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✓Passed House of Delegates
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✓Passed Senate
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced January 06, 2020. Enacted.
Prognosis
Where this bill stands today.
Odds of enactment
HighHow often bills like it became law.
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Enacted
Current position in the legislative process.
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1 sponsor
1 primary, 0 co-sponsors signed on.
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Mixed recorded votes
5 passed, 1 failed in recorded votes so far.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
Reporting of payments by third-party settlement organizations. Requires third-party settlement organizations (TPSOs) to report to the Tax Department the gross amount of payments made to any participating payee, a person who receives payment from a TPSO. Generally speaking, a TPSO is a company that provides a platform for buyers and sellers to transact goods or services and settles transactions between those parties. Examples of TPSOs would be marketplace facilitators and "gig economy" platforms. Under federal law, payments by TPSOs to participating payees need not be reported unless they exceed $20,000 and there are more than 200 transactions between the TPSO and the participating payee. The bill instead requires use of the standard 1099 reporting threshold of $600 for non-TPSO income as the level at which TPSO income must be reported to the Tax Department. The requirements of the bill apply only to payments to participating payees with a Virginia address. This bill is identical to SB 211.
Bill Text
Action History
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Approved by Governor-Chapter 248 (effective 7/1/20)
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Governor's Action Deadline 11:59 p.m., March 10, 2020
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Enrolled Bill communicated to Governor on March 3, 2020
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Signed by President
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Signed by Speaker
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Impact statement from TAX (HB730ER)
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Enrolled
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Passed Senate (39-Y 1-N)
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Read third time
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Constitutional reading dispensed (39-Y 0-N)
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Reported from Finance and Appropriations (11-Y 0-N)
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Referred to Committee on Finance and Appropriations
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Constitutional reading dispensed
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VOTE: Passage (58-Y 40-N)
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Read third time and passed House (58-Y 40-N)
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Read second time and engrossed
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Read first time
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Reported from Finance (14-Y 8-N)
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Reconsidered by Finance
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Failed to report (defeated) in Finance (9-Y 11-N)
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Impact statement from TAX (HB730)
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Referred to Committee on Finance
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Prefiled and ordered printed; offered 01/08/20 20100549D
Sponsors
- Vivian E. Watts · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 147 not signed on · 22 voted No
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (147)
147 members have not signed on to this bill.
Show all 147 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 39 | 1 | 0 | 0 |
| Total | 39 | 1 | 0 | 0 |
| % of votes cast | 98% | 3% | 0% | 0% |
How each member voted (40)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 39 | 0 | 0 | 1 |
| Total | 39 | 0 | 0 | 1 |
| % of votes cast | 98% | 0% | 0% | 3% |
How each member voted (40)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 11 | 0 | 0 | 0 |
| Total | 11 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (11)
| Member | Party | Vote |
|---|---|---|
| McClellan, Jennifer L. | — | Yea |
| Barker, George L. | — | Yea |
| David W. Marsden | — | Yea |
| Hanger, Emmett W., Jr. | — | Yea |
| Howell, Janet D. | — | Yea |
| Mamie E. Locke | — | Yea |
| Newman, Stephen D. | — | Yea |
| Norment, Thomas K., Jr. | — | Yea |
| R. Creigh Deeds | — | Yea |
| Ruff, Frank M., Jr. | — | Yea |
| Saslaw, Richard L. | — | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 57 | 40 | 0 | 2 |
| Total | 57 | 40 | 0 | 2 |
| % of votes cast | 58% | 40% | 0% | 2% |
How each member voted (99)
| Member | Party | Vote |
|---|---|---|
| Avoli, G. "John" | — | Nay |
| Ayala, Hala S. | — | Yea |
| Batten, Amanda E. | — | Nay |
| Bell, Robert B. | — | Nay |
| Bourne, Jeffrey M. | — | Yea |
| Brewer, Emily M. | — | Nay |
| Byron, Kathy J. | — | Nay |
| Campbell, Jeffrey L. | — | Nay |
| Campbell, Ronnie R. | — | Not Voting |
| Carter, Lee J. | — | Nay |
| Cole, Mark L. | — | Nay |
| Collins, Christopher E. | — | Yea |
| Cox, M. Kirkland | — | Nay |
| Coyner, Carrie E. | — | Nay |
| Edmunds, James E., II | — | Yea |
| Fariss, C. Matthew | — | Yea |
| Freitas, Nicholas J. | — | Nay |
| Gilbert, C. Todd | — | Nay |
| Gooditis, Wendy W. | — | Yea |
| Guy, Nancy D. | — | Yea |
| Heretick, Steve E. | — | Yea |
| Hudson, Sally L. | — | Yea |
| Hurst, Chris L. | — | Nay |
| Jenkins, Clinton L. | — | Nay |
| Jones, Jerrauld C. "Jay" | — | Yea |
| Keam, Mark L. | — | Yea |
| Kory, Kaye | — | Yea |
| LaRock, Dave A. | — | Nay |
| Levine, Mark H. | — | Yea |
| Lindsey, Joseph C. | — | Yea |
| Marshall, Daniel W., III | — | Nay |
| Miyares, Jason S. | — | Yea |
| Mugler, Martha M. | — | Yea |
| Mullin, Michael P. | — | Yea |
| Murphy, Kathleen | — | Yea |
| Orrock, Robert D., Sr. | — | Yea |
| Plum, Kenneth R. | — | Yea |
| Poindexter, Charles D. | — | Nay |
| Ransone, Margaret B. | — | Nay |
| Robinson, Roxann L. | — | Nay |
| Rush, Nick | — | Nay |
| Samirah, Ibraheem S. | — | Yea |
| Subramanyam, Suhas | — | Yea |
| Tyler, Roslyn C. | — | Yea |
| Wampler, William C., III | — | Nay |
| Alex Q. Askew | — | Yea |
| Alfonso H. Lopez | — | Yea |
| Barry D. Knight | — | Nay |
| Betsy B. Carr | — | Yea |
| C.E. Cliff Hayes, Jr. | — | Yea |
| Charniele L. Herring | — | Yea |
| Chris S. Runion | — | Nay |
| Christopher T. Head | — | Nay |
| Dan I. Helmer | — | Yea |
| Danica A. Roem | — | Yea |
| David A. Reid | — | Yea |
| David L. Bulova | — | Yea |
| Delores L. McQuinn | — | Yea |
| Don Scott | — | Yea |
| Elizabeth R. Guzman | — | Yea |
| Garrett McGuire | — | Nay |
| Hyland F. "Buddy" Fowler, Jr. | — | Nay |
| Israel D. O'Quinn | — | Nay |
| James A. "Jay" Leftwich | — | Nay |
| James W. Morefield | — | Nay |
| Jeion A. Ward | — | Not Voting |
| Jennifer D. Carroll Foy | — | Yea |
| Joseph P. McNamara | — | Nay |
| Joshua G. Cole | — | Nay |
| Karrie K. Delaney | — | Yea |
| Kathy K.L. Tran | — | Yea |
| Kelly K. Convirs-Fowler | — | Yea |
| Kimberly Pope Adams | — | Yea |
| Kimberly Pope Adams | — | Nay |
| Lamont Bagby | — | Yea |
| Lashrecse D. Aird | — | Yea |
| Luke E. Torian | — | Yea |
| M. Keith Hodges | — | Nay |
| Marcia S. "Cia" Price | — | Yea |
| Marcus B. Simon | — | Yea |
| Mark D. Sickles | — | Yea |
| Michael J. Webert | — | Nay |
| Patrick A. Hope | — | Yea |
| Paul E. Krizek | — | Yea |
| R. Lee Ware | — | Yea |
| Richard C. "Rip" Sullivan, Jr. | — | Yea |
| Robert S. Bloxom, Jr. | — | Yea |
| Rodney T. Willett | — | Yea |
| Sam Rasoul | — | Nay |
| Schuyler T. VanValkenburg | — | Yea |
| Scott A. Wyatt | — | Nay |
| Shelly A. Simonds | — | Yea |
| Terry G. Kilgore | — | Yea |
| Terry L. Austin | — | Yea |
| Thomas C. Wright, Jr. | — | Nay |
| Tony O. Wilt | — | Nay |
| Vivian E. Watts | — | Yea |
| Wendell S. Walker | — | Nay |
| Will Davis | — | Nay |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 14 | 8 | 0 | 0 |
| Total | 14 | 8 | 0 | 0 |
| % of votes cast | 64% | 36% | 0% | 0% |
How each member voted (22)
| Member | Party | Vote |
|---|---|---|
| Keam, Mark L. | — | Yea |
| Kory, Kaye | — | Yea |
| Lindsey, Joseph C. | — | Yea |
| Murphy, Kathleen | — | Yea |
| Heretick, Steve E. | — | Yea |
| Ayala, Hala S. | — | Yea |
| Carter, Lee J. | — | Nay |
| Mugler, Martha M. | — | Yea |
| Hudson, Sally L. | — | Yea |
| Orrock, Robert D., Sr. | — | Yea |
| Byron, Kathy J. | — | Nay |
| Gilbert, C. Todd | — | Nay |
| Poindexter, Charles D. | — | Nay |
| Campbell, Ronnie R. | — | Nay |
| Don Scott | — | Yea |
| Hyland F. "Buddy" Fowler, Jr. | — | Nay |
| Jennifer D. Carroll Foy | — | Yea |
| Joseph P. McNamara | — | Nay |
| R. Lee Ware | — | Yea |
| Richard C. "Rip" Sullivan, Jr. | — | Yea |
| Thomas C. Wright, Jr. | — | Nay |
| Vivian E. Watts | — | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 9 | 11 | 0 | 2 |
| Total | 9 | 11 | 0 | 2 |
| % of votes cast | 41% | 50% | 0% | 9% |
How each member voted (22)
| Member | Party | Vote |
|---|---|---|
| Keam, Mark L. | — | Yea |
| Kory, Kaye | — | Yea |
| Lindsey, Joseph C. | — | Nay |
| Murphy, Kathleen | — | Yea |
| Heretick, Steve E. | — | Yea |
| Ayala, Hala S. | — | Yea |
| Carter, Lee J. | — | Nay |
| Mugler, Martha M. | — | Yea |
| Hudson, Sally L. | — | Yea |
| Orrock, Robert D., Sr. | — | Nay |
| Byron, Kathy J. | — | Nay |
| Gilbert, C. Todd | — | Not Voting |
| Poindexter, Charles D. | — | Nay |
| Campbell, Ronnie R. | — | Nay |
| Don Scott | — | Nay |
| Hyland F. "Buddy" Fowler, Jr. | — | Nay |
| Jennifer D. Carroll Foy | — | Yea |
| Joseph P. McNamara | — | Nay |
| R. Lee Ware | — | Nay |
| Richard C. "Rip" Sullivan, Jr. | — | Not Voting |
| Thomas C. Wright, Jr. | — | Nay |
| Vivian E. Watts | — | Yea |
Subjects
Frequently asked questions
- What does HB 730 do?
- Reporting of payments by third-party settlement organizations. Requires third-party settlement organizations (TPSOs) to report to the Tax Department the gross amount of payments made to any participating payee, a person who receives payment from a TPSO. Generally speaking, a TPSO is a company that provides a platform for buyers and sellers to transact goods or services and settles transactions between those parties. Examples of TPSOs would be marketplace facilitators and "gig economy" platforms. Under federal law, payments by TPSOs to participating payees need not be reported unless they exceed $20,000 and there are more than 200 transactions between the TPSO and the participating payee. The bill instead requires use of the standard 1099 reporting threshold of $600 for non-TPSO income as the level at which TPSO income must be reported to the Tax Department. The requirements of the bill apply only to payments to participating payees with a Virginia address. This bill is identical to SB 211.
- Who sponsors HB 730?
- HB 730 is sponsored by Vivian E. Watts.
- What is the current status of HB 730?
- This bill has been enacted into law. Introduced January 06, 2020. Enacted.
- Where can I track HB 730?
- Track HB 730 free on One Click Politics — get push/email alerts when it moves.
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