2023 Regular Session • Virginia Legislature
SB1405: Income tax, state; rolling conformity, report.
Legislative Summary
Income tax; rolling conformity; report. Provides that Virginia shall generally conform to federal tax laws on a rolling basis, meaning that Virginia tax laws incorporate changes to federal income tax law as soon as Congress enacts them on or after January 1, 2023. However, the bill provides that Virginia shall not conform to (i) any changes in a single act of Congress with an impact of more than $15 million on revenues in the year in which the amendment was enacted or any of the next four years and (ii) all amendments in a year with a cumulative projected impact of more than $75 million in the year in which the amendments were enacted or any of the next four years. For any amendment enacted on or after January 1, 2024, the $15 million per act impact threshold shall be adjusted annually by the change in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) for the previous year.
Bill History
1/11/2023
Prefiled and ordered printed; offered 01/11/23 23101959D
Senate
1/11/2023
Referred to Committee on Finance and Appropriations
Senate
2/2/2023
Reported from Finance and Appropriations with substitute (16-Y 0-N)
Senate
2/2/2023
Committee substitute printed 23106214D-S1
Senate
2/3/2023
Constitutional reading dispensed (38-Y 0-N)
Senate
2/6/2023
Read second time
Senate
2/6/2023
Reading of substitute waived
Senate
2/6/2023
Committee substitute agreed to 23106214D-S1
Senate
2/6/2023
Engrossed by Senate - committee substitute SB1405S1
Senate
2/6/2023
Constitutional reading dispensed (39-Y 0-N)
Senate
2/6/2023
Passed Senate (39-Y 0-N)
Senate
2/8/2023
Placed on Calendar
House of Delegates
2/8/2023
Read first time
House of Delegates
2/8/2023
Referred to Committee on Finance
House of Delegates
2/8/2023
Reported from Finance with substitute (21-Y 0-N)
House of Delegates
2/8/2023
Committee substitute printed 23106489D-H1
House of Delegates
2/10/2023
Read second time
House of Delegates
2/13/2023
Read third time
House of Delegates
2/13/2023
Committee substitute agreed to 23106489D-H1
House of Delegates
2/13/2023
Engrossed by House - committee substitute SB1405H1
House of Delegates
2/13/2023
Passed House with substitute BLOCK VOTE (99-Y 0-N)
House of Delegates
2/13/2023
VOTE: Block Vote Passage (99-Y 0-N)
House of Delegates
2/15/2023
House substitute rejected by Senate (10-Y 30-N)
Senate
2/15/2023
House insisted on substitute
House of Delegates
2/15/2023
House requested conference committee
House of Delegates
2/15/2023
Senate acceded to request (40-Y 0-N)
Senate
2/15/2023
Conferees appointed by Senate
Senate
2/15/2023
Senators: Barker, Howell, Newman
Senate
2/15/2023
Conferees appointed by House
House of Delegates
2/15/2023
Delegates: McNamara, Bloxom, Sickles
House of Delegates
2/25/2023
Conference: Amended by conference committee
2/25/2023
Conference substitute printed 23107521D-S2
Senate
2/25/2023
Conference report agreed to by House (95-Y 0-N)
House of Delegates
2/25/2023
VOTE: Adoption (95-Y 0-N)
House of Delegates
2/25/2023
Conference report agreed to by Senate (40-Y 0-N)
Senate
3/7/2023
Enrolled
Senate
3/7/2023
Bill text as passed Senate and House (SB1405ER)
Senate
3/8/2023
Signed by President
Senate
3/8/2023
Signed by Speaker
House of Delegates
3/13/2023
Enrolled Bill Communicated to Governor on March 13, 2023
Senate
3/13/2023
Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
3/27/2023
Governor's recommendation received by Senate
Senate
4/12/2023
Senate concurred in Governor's recommendation (40-Y 0-N)
Senate
4/12/2023
House concurred in Governor's recommendation BLOCK VOTE (93-Y 0-N)
House of Delegates
4/12/2023
VOTE: Block Vote Adoption (93-Y 0-N)
House of Delegates
4/12/2023
Governor: Governor's recommendation adopted
4/12/2023
Reenrolled
Senate
4/12/2023
Reenrolled bill text (SB1405ER2)
Senate
4/12/2023
Signed by President as reenrolled
Senate
4/12/2023
Signed by Speaker as reenrolled
House of Delegates
4/12/2023
Enacted, Chapter 763 (effective 7/1/23)
House of Delegates
4/12/2023
Governor: Acts of Assembly Chapter text (CHAP0763)
Amendments
Conference amendments
Conference amendments
2/25/2023Not Adopted
Substitute for Committee: Finance
Substitute for Committee: Finance
2/8/2023Not Adopted
Substitute for SB1405 for S-Finance and Appropriations
Substitute for SB1405 for S-Finance and Appropriations
2/3/2023Not Adopted
Governor's recommendation
Governor's recommendation
12/17/2017Not Adopted
Roll Call Votes
House: VOTE: Block Vote Adoption (93-Y 0-N)
4/12/2023
93
Yea
0
Nay
0
Not Voting
4
Absent
Result: PASSED
Senate: Senate concurred in Governor's recommendation (40-Y 0-N)
4/12/2023
40
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
House: VOTE: Adoption (95-Y 0-N)
2/25/2023
95
Yea
0
Nay
0
Not Voting
5
Absent
Result: PASSED
Senate: Conference report agreed to by Senate (40-Y 0-N)
2/25/2023
40
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
Senate: Senate acceded to request (40-Y 0-N)
2/15/2023
40
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
Senate: House substitute rejected by Senate (10-Y 30-N)
2/15/2023
10
Yea
30
Nay
0
Not Voting
0
Absent
Result: FAILED
House: VOTE: Block Vote Passage (99-Y 0-N)
2/13/2023
99
Yea
0
Nay
0
Not Voting
1
Absent
Result: PASSED
House: Reported from Finance with substitute (21-Y 0-N)
2/8/2023
21
Yea
0
Nay
0
Not Voting
1
Absent
Result: PASSED
Senate: Passed Senate (39-Y 0-N)
2/6/2023
39
Yea
0
Nay
0
Not Voting
1
Absent
Result: PASSED
Senate: Constitutional reading dispensed (39-Y 0-N)
2/6/2023
39
Yea
0
Nay
0
Not Voting
1
Absent
Result: PASSED
Senate: Constitutional reading dispensed (38-Y 0-N)
2/3/2023
38
Yea
0
Nay
0
Not Voting
2
Absent
Result: PASSED
Senate: Reported from Finance and Appropriations with substitute (16-Y 0-N)
2/2/2023
16
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
Status Information
Current Status
Passed(4/12/2023)
Chamber
House of Delegates
Sine DiePrior Session
Sponsors
Democrat: 1
Primary Sponsor
George Barker
Democrat