Bill
Bill > SB1451
summary
Introduced
01/12/2023
01/12/2023
In Committee
01/12/2023
01/12/2023
Crossed Over
Passed
Dead
04/12/2023
04/12/2023
Introduced Session
2023 Regular Session
Bill Summary
Income tax; rates and deductions. Lowers the top income tax rate from 5.75 percent to 5.5 percent for taxable years beginning on and after January 1, 2024. The bill also raises the standard deduction to $9,000 for single individuals and $18,000 for married persons for taxable years beginning on and after January 1, 2024, but before January 1, 2026.
AI Summary
This bill lowers the top income tax rate in Virginia from 5.75% to 5.5% for taxable years beginning on and after January 1, 2024. It also raises the standard deduction to $9,000 for single individuals and $18,000 for married persons for taxable years beginning on and after January 1, 2024, but before January 1, 2026.
Committee Categories
Budget and Finance
Sponsors (16)
Thomas Norment (R)*,
David Suetterlein (R)*,
John Cosgrove (R),
Bill DeSteph (R),
Siobhan Dunnavant (R),
Travis Hackworth (R),
Ryan McDougle (R),
Stephen Newman (R),
Mark Obenshain (R),
Mark Peake (R),
Todd Pillion (R),
Bryce Reeves (R),
Frank Ruff (R),
William Stanley (R),
Richard Stuart (R),
Jill Vogel (R),
Last Action
Passed by indefinitely in Finance and Appropriations (10-Y 5-N) (on 01/31/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+SB1451 |
| Fiscal Note/Analysis - Senate: Presented and ordered printed 231 | https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB1451F161+PDF |
| BillText | https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB1451+hil |
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