HB 60 Income tax, state; subtraction for National Guard pay.
Hyland F. "Buddy" Fowler, Jr. | all patrons    ...    notes
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Summary as introduced:
Income tax subtraction for National Guard pay. Increases from $3,000 to $5,000 the maximum individual income tax subtraction for National Guard pay. Under current law, the annual subtraction for wages or salary received for service in the National Guard of the Commonwealth of Virginia is the lesser of $3,000 or the amount of income derived by the person from 39 calendar days of such service. Under this bill, the subtraction is the lesser of $5,000 or the amount of income derived from 39 calendar days of National Guard service. The income tax subtraction will continue to be available only to persons in the ranks of O3 and below.

The provisions of the bill apply to taxable years beginning on or after January 1, 2016.

Full text:
12/03/15  House: Prefiled and ordered printed; offered 01/13/16 16100312D  pdf | impact statement

Status:
12/03/15  House: Prefiled and ordered printed; offered 01/13/16 16100312D
12/03/15  House: Referred to Committee on Finance
02/02/16  House: Assigned Finance sub: Subcommittee #1
02/03/16  House: Subcommittee recommends continuing to 2017 by voice vote
02/08/16  House: Continued to 2017 in Finance by voice vote
12/01/16  House: Left in Finance