Barry Knight
- Republican
- Delegate
- District 98
Primary
Income tax; property information and analytics firms. Allows property information and analytics firms that meet certain job creation and investment criteria to use market-based sourcing for the sale of services. The bill also sets forth numerous reporting requirements for such firms and for the Department of Taxation. The provisions of the bill shall not become effective until a memorandum of understanding is signed by a property information and analytics firm and the Virginia Economic Development Partnership Authority. This bill is identical to SB 346.
Income tax; property information and analytics firms. Allows property information and analytics firms that meet certain job creation and investment criteria to use market-based sourcing for the sale of services. The bill also sets forth numerous reporting requirements for such firms and for the Department of Taxation. The provisions of the bill shall not become effective until a memorandum of understanding is signed by a property information and analytics firm and the Virginia Economic Development Partnership Authority.This bill is identical to SB 346.
Income tax; property analytics firms; apportionmentand sourcing of sales. Establishes, starting with taxable year2022, single-factor sales apportionment and market-based sourcingfor property analytics firms that meet certain criteria. Under current law, the default rule for apportionment is three-factor apportionmentbased on property, payroll, and sales and the default rule for sourcingsales is based on cost-of-performance.
Approved by Governor-Chapter 256 (effective - see bill)
Governor's Action Deadline 11:59 p.m., April 11, 2022
Enrolled Bill communicated to Governor on March 22, 2022
Agreed to by House by voice vote
Engrossed by House
Impact statement from TAX (HB453ER)
Signed by President
Signed by Speaker
Enrolled
Constitutional reading dispensed (40-Y 0-N)
VOTE: Adoption (97-Y 0-N)
Senate substitute agreed to by House 22107273D-S1 (97-Y 0-N)
Passed Senate with substitute (40-Y 0-N)
Engrossed by Senate - committee substitute HB453S1
Committee substitute agreed to 22107273D-S1
Reading of substitute waived
Read third time
Reported from Finance and Appropriations with substitute (15-Y 0-N)
Committee substitute printed 22107273D-S1
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed
Read third time and passed House BLOCK VOTE (98-Y 0-N)
VOTE: Block Vote Passage #2 (99-Y 0-N)
Passed House BLOCK VOTE (99-Y 0-N)
Reconsideration of passage agreed to by House
VOTE: Block Vote Passage (98-Y 0-N)
Read second time
Impact statement from TAX (HB453H1)
Engrossed by House - committee substitute HB453H1
Committee substitute agreed to 22105789D-H1
Read first time
House subcommittee amendments and substitutes offered
Reported from Appropriations with substitute (22-Y 0-N)
Committee substitute printed 22105789D-H1
Subcommittee recommends reporting with substitute (8-Y 0-N)
House committee, floor amendments and substitutes offered
Assigned App. sub: Commerce Agriculture & Natural Resources
Referred to Committee on Appropriations
Prefiled and ordered printed; offered 01/12/22 22103618D
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/12/22 22103618D | PDF HTML |
| Committee substitute printed 22105789D-H1 | PDF HTML |
| Committee substitute printed 22107273D-S1 | PDF HTML |
| HB453ER | PDF HTML |
| CHAP0256 | PDF HTML |
| Document | Format |
|---|---|
| Fiscal Impact Statement: HB453FER161.PDF | |
| Fiscal Impact Statement: HB453FH1161.PDF |
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