Virginia 2020 Regular Session Status: Enacted

SB 211 — Third-party settlement organizations; reporting of payments.

Last action — Approved by Governor-Chapter 63 (effective 7/1/20)

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House of Delegates
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced December 30, 2019. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 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 HB 730.

Bill Text

What changed in the latest version

7 added · 5 removed

Plain-language change summary

The recent amendment to Bill SB 211 clarifies the section that pertains to the reporting of payments made through third-party settlement organizations. Specifically, it emphasizes the transactions that occurred on or after January 1, 2020, targeting how these payments must be reported. This change is important because it ensures that all relevant transactions are properly documented and compliant with state regulations, enhancing transparency and accountability in financial reporting.

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SESSION history | hilite | pdf | print version VIRGINIA ACTS OF ASSEMBLY -- CHAPTER An Act to amend the Code of Virginia by adding in Article 4 of Chapter 3 of Title 58.1 a section numbered 58.1-356, relating to reporting of payments by third-party settlement organizations.
SESSION history | hilite | pdf | print version CHAPTER 63 An Act to amend the Code of Virginia by adding in Article 4 of Chapter 3 of Title 58.1 a section numbered 58.1-356, relating to reporting of payments by third-party settlement organizations.
[S 211] Approved   Be it enacted by the General Assembly of Virginia:
[S 211] Approved March 2, 2020   Be it enacted by the General Assembly of Virginia:
Any third-party settlement organization shall report to the Department, and to any participating payee, all information required by § 6050W of the Internal Revenue Code with respect to reportable payment transactions made on or after January 1, 2020 to such participating payee.
Any third-party settlement organization shall report to the Department, and to any participating payee, all information required by § 6050W of the Internal Revenue Code with respect to reportable payment transactions made on or after January 1, 2020, to such participating payee.
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Action History

  1. Approved by Governor-Chapter 63 (effective 7/1/20)

  2. Governor's Action Deadline 11:59 p.m., March 2, 2020

  3. Enrolled Bill Communicated to Governor on February 24, 2020

  4. Impact statement from TAX (SB211ER)

  5. Signed by President

  6. Signed by Speaker

  7. Enrolled

  8. VOTE: Passage (56-Y 44-N)

  9. Passed House (56-Y 44-N)

  10. Read third time

  11. Read second time

  12. Reported from Finance (14-Y 8-N)

  13. Referred to Committee on Finance

  14. Read first time

  15. Placed on Calendar

  16. Impact statement from TAX (SB211E)

  17. Read third time and passed Senate (40-Y 0-N)

  18. Printed as engrossed 20101609D-E

  19. Engrossed by Senate as amended SB211E

  20. Committee amendments agreed to

  21. Reading of amendments waived

  22. Read second time

  23. Constitutional reading dispensed (40-Y 0-N)

  24. Reported from Finance and Appropriations with amendments (16-Y 0-N)

  25. Impact statement from TAX (SB211)

  26. Moved from Finance to Finance and Appropriations due to a change of the committee name

  27. Referred to Committee on Finance and Appropriations

  28. Prefiled and ordered printed; offered 01/08/20 20101609D

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 147 not signed on · 42 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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

VOTE: Passage (56-Y 44-N)

Passed 55 Yea · 44 Nay
Party YeaNayPresentNot Voting
Unaffiliated 554400
Total 554400
% of votes cast 56%44%0%0%
How each member voted (99)
Member Party Vote
Brewer, Emily M. — Nay
Collins, Christopher E. — Nay
Lindsey, Joseph C. — Yea
Adams, Dawn M. — Yea
Adams, Les R. — Nay
Aird, Lashrecse D. — Yea
Alfonso H. Lopez — Yea
Askew, Alex Q. — Yea
Avoli, G. "John" — Nay
Ayala, Hala S. — Yea
Batten, Amanda E. — Nay
Bell, Robert B. — Nay
Betsy B. Carr — Yea
Bourne, Jeffrey M. — Yea
Bulova, David L. — Yea
Byron, Kathy J. — Nay
C.E. Cliff Hayes, Jr. — Yea
Campbell, Jeffrey L. — Nay
Campbell, Ronnie R. — Nay
Carroll Foy, Jennifer D. — Yea
Carter, Lee J. — Nay
Charniele L. Herring — Yea
Chris S. Runion — Nay
Christopher T. Head — Nay
Cole, Mark L. — Nay
Convirs-Fowler, Kelly K. — Yea
Cox, M. Kirkland — Nay
Coyner, Carrie E. — Nay
Dan I. Helmer — Yea
Danica A. Roem — Yea
David A. Reid — Yea
Davis, Glenn R. — Nay
Delores L. McQuinn — Yea
Don Scott — Yea
Edmunds, James E., II — Nay
Fariss, C. Matthew — Nay
Fowler, Hyland F."Buddy," Jr. — Nay
Freitas, Nicholas J. — Nay
Gilbert, C. Todd — Nay
Gooditis, Wendy W. — Yea
Guy, Nancy D. — Yea
Guzman, Elizabeth R. — Yea
Heretick, Steve E. — Yea
Hudson, Sally L. — Yea
Hurst, Chris L. — Nay
Israel D. O'Quinn — Nay
James A. "Jay" Leftwich — Nay
James W. Morefield — Nay
Jeion A. Ward — Yea
Jenkins, Clinton L. — Yea
Jones, Jerrauld C. "Jay" — Yea
Joseph P. McNamara — Nay
Joshua G. Cole — Nay
Karrie K. Delaney — Yea
Kathy K.L. Tran — Yea
Keam, Mark L. — Yea
Knight, Barry D. — Yea
Kory, Kaye — Yea
LaRock, Dave A. — Nay
Lamont Bagby — Yea
Levine, Mark H. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Nay
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Nay
McGuire, John J., III — Nay
Michael J. Webert — Nay
Miyares, Jason S. — Nay
Mugler, Martha M. — Yea
Mullin, Michael P. — Yea
Murphy, Kathleen — Yea
Orrock, Robert D., Sr. — Yea
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Plum, Kenneth R. — Yea
Poindexter, Charles D. — Nay
R. Lee Ware — Yea
Ransone, Margaret B. — Nay
Richard C. "Rip" Sullivan, Jr. — Yea
Robert S. Bloxom, Jr. — Yea
Robinson, Roxann L. — Nay
Rodney T. Willett — Yea
Rush, Nick — Nay
Sam Rasoul — Nay
Samirah, Ibraheem S. — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Wyatt — Nay
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Subramanyam, Suhas — Yea
Terry G. Kilgore — Yea
Terry L. Austin — Nay
Thomas C. Wright, Jr. — Nay
Tony O. Wilt — Nay
Tyler, Roslyn C. — Yea
Vivian E. Watts — Yea
Wampler, William C., III — Nay
Wendell S. Walker — Nay

Official roll call →

Reported from Finance (14-Y 8-N)

Passed 14 Yea · 8 Nay
Party YeaNayPresentNot Voting
Unaffiliated 14800
Total 14800
% of votes cast 64%36%0%0%
How each member voted (22)
Member Party Vote
Lindsey, Joseph C. — Yea
Ayala, Hala S. — Yea
Byron, Kathy J. — Nay
Campbell, Ronnie R. — Nay
Carroll Foy, Jennifer D. — Yea
Carter, Lee J. — Nay
Don Scott — Yea
Fowler, Hyland F."Buddy," Jr. — Nay
Gilbert, C. Todd — Nay
Heretick, Steve E. — Yea
Hudson, Sally L. — Yea
Joseph P. McNamara — Nay
Keam, Mark L. — Yea
Kory, Kaye — Yea
Mugler, Martha M. — Yea
Murphy, Kathleen — Yea
Orrock, Robert D., Sr. — Yea
Poindexter, Charles D. — Nay
R. Lee Ware — Yea
Richard C. "Rip" Sullivan, Jr. — Yea
Thomas C. Wright, Jr. — Nay
Vivian E. Watts — Yea

Official roll call →

Read third time and passed Senate (40-Y 0-N)

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 40000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)
Member Party Vote
Barker, George L. — Yea
Bell, John J. — Yea
Chafin, A. Benton "Ben" — Yea
Chase, Amanda F. — Yea
Cosgrove, John A., Jr. — Yea
Dunnavant, Siobhan S. — Yea
Edwards, John S. — Yea
Hanger, Emmett W., Jr. — Yea
Howell, Janet D. — Yea
Kiggans, Jennifer A. — Yea
Lewis, Lynwood W., Jr. — Yea
Mason, T. Montgomery "Monty" — Yea
McClellan, Jennifer L. — Yea
Morrissey, Joseph D. — Yea
Newman, Stephen D. — Yea
Norment, Thomas K., Jr. — Yea
Petersen, J. Chapman — Yea
Ruff, Frank M., Jr. — Yea
Saslaw, Richard L. — Yea
Spruill, Lionell, Sr. — Yea
Vogel, Jill Holtzman — Yea
Adam P. Ebbin — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Ghazala F. Hashmi — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Ryan T. McDougle — Yea
Scott A. Surovell — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Constitutional reading dispensed (40-Y 0-N)

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 40000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)
Member Party Vote
Barker, George L. — Yea
Bell, John J. — Yea
Chase, Amanda F. — Yea
Chafin, A. Benton "Ben" — Yea
Edwards, John S. — Yea
Cosgrove, John A., Jr. — Yea
Dunnavant, Siobhan S. — Yea
Hanger, Emmett W., Jr. — Yea
Howell, Janet D. — Yea
Kiggans, Jennifer A. — Yea
Lewis, Lynwood W., Jr. — Yea
Mason, T. Montgomery "Monty" — Yea
McClellan, Jennifer L. — Yea
Morrissey, Joseph D. — Yea
Newman, Stephen D. — Yea
Petersen, J. Chapman — Yea
Norment, Thomas K., Jr. — Yea
Ruff, Frank M., Jr. — Yea
Saslaw, Richard L. — Yea
Spruill, Lionell, Sr. — Yea
Vogel, Jill Holtzman — Yea
Adam P. Ebbin — Yea
Barbara A. Favola — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Ghazala F. Hashmi — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
L. Louise Lucas — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Ryan T. McDougle — Yea
Scott A. Surovell — Yea
Todd E. Pillion — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Reported from Finance and Appropriations with amendments (16-Y 0-N)

Passed 16 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 16000
Total 16000
% of votes cast 100%0%0%0%
How each member voted (16)
Member Party Vote
Howell, Janet D. — Yea
Norment, Thomas K., Jr. — Yea
Barker, George L. — Yea
Saslaw, Richard L. — Yea
Hanger, Emmett W., Jr. — Yea
Ruff, Frank M., Jr. — Yea
Newman, Stephen D. — Yea
Edwards, John S. — Yea
Vogel, Jill Holtzman — Yea
Petersen, J. Chapman — Yea
McClellan, Jennifer L. — Yea
Adam P. Ebbin — Yea
David W. Marsden — Yea
L. Louise Lucas — Yea
Mamie E. Locke — Yea
R. Creigh Deeds — Yea

Official roll call →

Subjects

taxation
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Frequently asked questions

What does SB 211 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 HB 730.
Who sponsors SB 211?
SB 211 is sponsored by Howell, Janet D..
What is the current status of SB 211?
This bill has been enacted into law. Introduced December 30, 2019. Enacted.
Where can I track SB 211?
Track SB 211 free on One Click Politics — get push/email alerts when it moves.

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