HB 2249 Definition of foreign source income.
C. Richard Cranwell | all patrons    ...    notes
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Summary:
Virginia adjusted gross income. Provides a subtraction from federal adjusted gross income for the amount of an individual's share of net income attributable to a foreign source qualified business unit of an S corporation. Current law only allows this subtraction for C corporations. The law takes effect January 1, 1996, but may then be applied retroactively for taxable years 1994 and 1995.

Full text:
01/23/95  House: Presented & ordered printed LD9825000  pdf
02/05/95  House: Printed as engrossed LD9825000-E  pdf
02/27/95  House: Conference substitute printed LD3281176-H1  pdf
03/13/95  House: Bill text as passed House and Senate (HB2249ER)  pdf
03/30/95  Governor: Acts of Assembly Chapter text (CHAP0602)  pdf

Amendments:
House amendments
Conference amendments

Status:
01/23/95  House: Presented & ordered printed LD9825000
01/23/95  House: Referred to Committee on Corporations, Insurance and Banking
01/26/95  House: Reported from Corp., Ins. & Banking (22-Y 0-N)
01/26/95  House: Referred to Committee on Finance
02/03/95  House: Reported from Finance with amds. (22-Y 0-N)
02/04/95  House: Read first time
02/05/95  House: Read second time
02/05/95  House: Committee amendments agreed to
02/05/95  House: Engrossed by House as amended
02/05/95  House: Printed as engrossed LD9825000-E
02/06/95  House: Read third time and passed House (Block Vote) (100-Y 0-N)
02/06/95  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
02/06/95  House: Communicated to Senate
02/07/95  Senate: Read first time
02/07/95  Senate: Referred to Committee on Finance
02/14/95  Senate: Reported from Finance with amendments (14-Y 0-N)
02/14/95  Senate: Constitutional reading dispensed (39-Y 0-N)
02/14/95  Senate: VOTE: (39-Y 0-N)
02/14/95  Senate: Read third time
02/14/95  Senate: Reading of amendments waived
02/14/95  Senate: Committee amendments agreed to
02/14/95  Senate: Engrossed by Senate as amended
02/14/95  Senate: Passed Senate with amendments (39-Y 0-N)
02/14/95  Senate: VOTE: (39-Y 0-N)
02/14/95  Senate: Rec. of passage agreed to by Senate (40-Y 0-N)
02/14/95  Senate: VOTE: (40-Y 0-N)
02/14/95  Senate: Passed Senate with amendments (40-Y 0-N)
02/14/95  Senate: VOTE: (40-Y 0-N)
02/14/95  House: Placed on Calendar
02/14/95  House: Senate amendments rejected by House (1-Y 98-N)
02/14/95  House: VOTE: REJECTED (1-Y 98-N)
02/14/95  Senate: Senate insisted on amendments (34-Y 0-N)
02/14/95  Senate: VOTE: INSIST & REQUEST (34-Y 0-N)
02/14/95  Senate: Senate requested conference committee
02/14/95  House: House acceded to request
02/14/95  House: Conferees appointed by House
02/14/95  House: Delegates: Cranwell, Brickley, Guest
02/14/95  Senate: Conferees appointed by Senate
02/14/95  Senate: Senators: Gartlan, Holland, R.J., Chichester
02/20/95  House: Conference report agreed to by House (95-Y 0-N)
02/20/95  House: VOTE: ADOPTION (95-Y 0-N)
02/21/95  Senate: Reading of conference report waived
02/21/95  Senate: Conference report agreed to by Senate (38-Y 0-N)
02/21/95  Senate: VOTE: ADOPT CONFERENCE REPORT (38-Y 0-N)
02/21/95  Conference: Senate amendments rejected by conference committee
02/21/95  Conference: Substitute recommended by conference committee
02/27/95  House: Conference substitute printed LD3281176-H1
03/13/95  House: Bill text as passed House and Senate (HB2249ER)
03/15/95  House: Enrolled
03/15/95  Senate: Signed by President
03/16/95  House: Signed by Speaker
03/24/95  Governor: Approved by Governor-Chapter 602 (effective 1/1/96)
03/30/95  Governor: Acts of Assembly Chapter text (CHAP0602)