republic-os/legislation/us/states/va/2022/hb-1121.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	Income tax, state; pass-through entities, elective tax.	Income taxation; pass-through entities. Permits a qualifying pass-through entity, defined in the bill, to make an annual election in taxable years 2021 through 2025 to pay an elective income tax at a rate of 5.75 percent, created by the bill, at the entity level for the taxable period covered by the return. The bill also (i) creates a corresponding refundable income tax credit for taxable years 2021 through 2025 for any amount of income derived from a pass-through entity having Virginia taxable income if such pass-through entity makes such election and pays the elective income tax imposed at the entity level and (ii) allows an individual to claim a credit for similar taxes paid to other states for taxable years 2021 through 2025. This bill is identical to SB 692.	us/states/va	Virginia General Assembly	2022	HB 1121	Virginia HB 1121 (2022)	bill		enacted	Joseph P. McNamara	5	40	8	2022-01-12	2022-04-11	openstates	ocd-bill/203149d8-2d66-4c53-8db4-d314286b3840	https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+HB1121	55967617aa985545c77c8e8c81ff31aeff61dd448bd34ae52f8ab289dce883b3	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-va

Virginia HB 1121 (2022) — Income tax, state; pass-through entities, elective tax.

Income taxation; pass-through entities. Permits a qualifying pass-through entity, defined in the bill, to make an annual election in taxable years 2021 through 2025 to pay an elective income tax at a rate of 5.75 percent, created by the bill, at the entity level for the taxable period covered by the return. The bill also (i) creates a corresponding refundable income tax credit for taxable years 2021 through 2025 for any amount of income derived from a pass-through entity having Virginia taxable income if such pass-through entity makes such election and pays the elective income tax imposed at the entity level and (ii) allows an individual to claim a credit for similar taxes paid to other states for taxable years 2021 through 2025. This bill is identical to SB 692.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. CHAP0690 (committee substitute) — source
2. Committee substitute printed 22106141D-H1 (committee substitute) — source
3. Committee substitute printed 22106756D-S1 (committee substitute) — source
4. HB1121ER (committee substitute) — source
5. Presented and ordered printed 22103362D (committee substitute) — source

Votes

• Reported from Finance and Appropriations with substitute (16-Y 0-N) — 16–0 (pass) · upper
• Reported from Finance with substitute (21-Y 0-N) — 21–0 (pass) · lower
• VOTE: Adoption (99-Y 0-N) — 98–0 (pass) · lower
• Subcommittee recommends reporting with substitute (9-Y 0-N) — 9–0 (pass) · lower
• Constitutional reading dispensed (40-Y 0-N) — 40–0 (pass) · upper
• Reported from Appropriations (18-Y 0-N) — 18–0 (pass) · lower
• VOTE: Block Vote Passage (100-Y 0-N) — 99–0 (pass) · lower
• Passed Senate with substitute (40-Y 0-N) — 40–0 (pass) · upper

Sponsors

• Joseph P. McNamara — primary (person)
• Vivian E. Watts — cosponsor (person)

Timeline

The legislative action history — every referral, reading, and vote.

• 2022-01-12 Presented and ordered printed 22103362D introduction
• 2022-01-12 Referred to Committee on Finance referral-committee
• 2022-01-27 Assigned Finance sub: Subcommittee #1 referral-committee
• 2022-02-03 Impact statement from TAX (HB1121)
• 2022-02-07 House subcommittee amendments and substitutes offered
• 2022-02-07 Subcommittee recommends reporting with substitute (9-Y 0-N)
• 2022-02-07 Subcommittee recommends referring to Committee on Appropriations
• 2022-02-07 House committee, floor amendments and substitutes offered
• 2022-02-07 Reported from Finance with substitute (21-Y 0-N) committee-passage
• 2022-02-07 Committee substitute printed 22106141D-H1 substitution
• 2022-02-07 Referred to Committee on Appropriations referral-committee
• 2022-02-11 Reported from Appropriations (18-Y 0-N) committee-passage
• 2022-02-13 Read first time reading-1
• 2022-02-14 Read second time reading-2
• 2022-02-14 Committee substitute agreed to 22106141D-H1
• 2022-02-14 Engrossed by House - committee substitute HB1121H1
• 2022-02-15 Read third time and passed House BLOCK VOTE (100-Y 0-N) passage, reading-3
• 2022-02-15 VOTE: Block Vote Passage (100-Y 0-N)
• 2022-02-16 Constitutional reading dispensed
• 2022-02-16 Referred to Committee on Finance and Appropriations referral-committee
• 2022-02-24 Impact statement from TAX (HB1121H1)
• 2022-03-01 Senate committee, floor amendments and substitutes offered
• 2022-03-01 Reported from Finance and Appropriations with substitute (16-Y 0-N) committee-passage
• 2022-03-01 Committee substitute printed 22106756D-S1 substitution
• 2022-03-02 Constitutional reading dispensed (40-Y 0-N)
• 2022-03-02 Read third time reading-3
• 2022-03-02 Reading of substitute waived
• 2022-03-02 Committee substitute agreed to 22106756D-S1
• 2022-03-02 Engrossed by Senate - committee substitute HB1121S1
• 2022-03-02 Passed Senate with substitute (40-Y 0-N) passage
• 2022-03-02 Senate substitute agreed to by House 22106756D-S1 (99-Y 0-N)
• 2022-03-02 VOTE: Adoption (99-Y 0-N)
• 2022-03-04 Impact statement from TAX (HB1121S1)
• 2022-03-07 Enrolled
• 2022-03-08 Signed by Speaker
• 2022-03-08 Signed by President
• 2022-03-22 Enrolled Bill communicated to Governor on March 22, 2022
• 2022-03-22 Governor's Action Deadline 11:59 p.m., April 11, 2022
• 2022-03-23 Impact statement from TAX (HB1121ER)
• 2022-04-11 Approved by Governor-Chapter 690 (effective 7/1/22) executive-signature

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/203149d8-2d66-4c53-8db4-d314286b3840. Confidence: reported (aggregated from official Virginia legislature records).