Virginia 2022 Regular Session Status: In Committee

SB 343 — Income tax, state; refundable tax credit for low-income taxpayers.

Last action — Left in Finance and Appropriations

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

This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Refundable income tax credit for low-incometaxpayers. Allows low-income individuals and married personsto claim either (i) a nonrefundable income tax credit equal to $300for each individual, his spouse, and any dependents or (ii) a refundableincome tax credit equal to 20 percent of the federal earned incometax credit claimed that year by the individual or married personsfor the same taxable year. Under current law, low-income individualsand married persons may elect either of these amounts; however, bothoptions for claiming the credit are nonrefundable. The provisionsof the bill apply to taxable years 2022 through 2028.

Bill Text

Action History

  1. Left in Finance and Appropriations

  2. Senate subcommittee amendments and substitutes offered

  3. Impact statement from TAX (SB343)

  4. Referred to Committee on Finance and Appropriations

  5. Prefiled and ordered printed; offered 01/12/22 22102700D

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 145 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (145)

145 members have not signed on to this bill.

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"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

Subjects

taxation
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Frequently asked questions

What does SB 343 do?
Refundable income tax credit for low-incometaxpayers. Allows low-income individuals and married personsto claim either (i) a nonrefundable income tax credit equal to $300for each individual, his spouse, and any dependents or (ii) a refundableincome tax credit equal to 20 percent of the federal earned incometax credit claimed that year by the individual or married personsfor the same taxable year. Under current law, low-income individualsand married persons may elect either of these amounts; however, bothoptions for claiming the credit are nonrefundable. The provisionsof the bill apply to taxable years 2022 through 2028.
Who sponsors SB 343?
SB 343 is sponsored by Barker, George L., Jennifer L. McClellan, and Adam P. Ebbin.
What is the current status of SB 343?
This bill died with 2022 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 343?
Track SB 343 free on One Click Politics — get push/email alerts when it moves.

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