George Barker
- Democratic
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 HB 453.
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 HB 453.
Income tax; property analytics firms; apportionmentand sourcing of sales. Establishes, starting with taxable year2022, single-factor sales apportionment and market-based sourcing for property analytics firms that meet certain criteria. Under currentlaw, the default rule for apportionment is three-factor apportionmentbased on property, payroll, and sales and the default rule for sourcing sales is based on cost-of-performance.
Approved by Governor-Chapter 257 (effective - see bill)
Governor's Action Deadline 11:59 p.m., April 11, 2022
Enrolled Bill Communicated to Governor on March 22, 2022
Impact statement from TAX (SB346ER)
Signed by Speaker
Signed by President
Enrolled
Title replaced 22106936D-H1
House substitute agreed to by Senate (40-Y 0-N)
Read third time
VOTE: Block Vote Passage (99-Y 0-N)
Passed House with substitute BLOCK VOTE (99-Y 0-N)
Engrossed by House - committee substitute SB346H1
Committee substitute agreed to 22106936D-H1
Read second time
Impact statement from TAX (SB346ES1)
House committee, floor amendments and substitutes offered
Reported from Appropriations with substitute (21-Y 0-N)
Committee substitute printed 22106936D-H1
Placed on Calendar
Referred to Committee on Appropriations
Read first time
Printed as engrossed 22106138D-ES1
Engrossed by Senate - committee substitute with amendment SB346ES1
Amendment by Senator Barker agreed to
Reading of amendment waived
Passed Senate (40-Y 0-N)
Constitutional reading dispensed (40-Y 0-N)
Committee substitute agreed to 22106138D-S1
Reading of substitute waived
Read second time
Impact statement from TAX (SB346S1)
Constitutional reading dispensed (40-Y 0-N)
Committee substitute printed 22106138D-S1
Reported from Finance and Appropriations with substitute (16-Y 0-N)
Senate committee, floor amendments and substitutes offered
Referred to Committee on Finance and Appropriations
Prefiled and ordered printed; offered 01/12/22 22102800D
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/12/22 22102800D | PDF HTML |
| Committee substitute printed 22106138D-S1 | PDF HTML |
| SB346ES1 | PDF HTML |
| Committee substitute printed 22106936D-H1 | PDF HTML |
| SB346ER | PDF HTML |
| CHAP0257 | PDF HTML |
| Document | Format |
|---|---|
| Fiscal Impact Statement: SB346FER161.PDF | |
| Fiscal Impact Statement: SB346FES1161.PDF | |
| Fiscal Impact Statement: SB346FS1161.PDF | |
| Amendment: SB346AS | HTML |
| Amendment: SB346AC | HTML |
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