2025 Regular Session • Virginia Legislature
HB1997: Income tax, state; pass-through entities, sunset.
Legislative Summary
Income tax; pass-through entities; sunset. Removes the sunset for the elective entity level tax on pass-through entities that is currently set to expire after taxable year 2025.
Demographic Impact
Overall analysis of equity impact
70% Positive
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Bill History
1/7/2025
Prefiled and ordered printed; Offered 01-13-2025 25101843D
House of Delegates
1/7/2025
Referred to Committee on Finance
House of Delegates
1/18/2025
Impact statement from TAX (HB1997)
House of Delegates
1/20/2025
Assigned Finance sub: Subcommittee #2
House of Delegates
1/21/2025
Subcommittee recommends reporting (6-Y 2-N)
House of Delegates
1/22/2025
Reported from Finance (17-Y 5-N)
House of Delegates
1/24/2025
Read first time
House of Delegates
1/27/2025
Read second time and engrossed
House of Delegates
1/28/2025
Read third time and passed House (92-Y 6-N)
House of Delegates
1/29/2025
Constitutional reading dispensed (on 1st reading)
Senate
1/29/2025
Referred to Committee on Finance and Appropriations
Senate
2/5/2025
Passed by indefinitely in Finance and Appropriations (10-Y 3-N)
Senate
Roll Call Votes
Passed by indefinitely in Finance and Appropriations (10-Y 3-N)
2/5/2025
10
Yea
3
Nay
0
Not Voting
2
Absent
Result: PASSED
Read third time and passed House (92-Y 6-N)
1/28/2025
92
Yea
6
Nay
0
Not Voting
2
Absent
Result: PASSED
Reported from Finance (17-Y 5-N)
1/22/2025
17
Yea
5
Nay
0
Not Voting
0
Absent
Result: PASSED
Subcommittee recommends reporting (6-Y 2-N)
1/21/2025
6
Yea
2
Nay
0
Not Voting
1
Absent
Result: PASSED
Status Information
Current Status
Engrossed(1/27/2025)
Chamber
Senate
Sponsors
Republican: 1
Primary Sponsor
Joseph McNamara
Republican