Fabio
94 lines
5.5 KiB
Markdown
94 lines
5.5 KiB
Markdown
---
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type: "Bill"
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title: "Income tax, corporate; filing status for tax returns of certain affiliated corporations."
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description: "Corporate income tax returns of affiliated corporations. Provides that, for taxable years 2023 and 2024, certain affiliated corporations may elect to switch to or from consolidated corporate income tax return filing status under certain conditions, including the requirement that the affiliated group filed on the same basis for the preceding 20 years. The option would be available only to a group with at least one affiliate that is a bank exempt from filing a Virginia corporate income tax return. Current law requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet certain specified requirements in order for permission to be granted. This bill is identical to HB 224."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2022"
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identifier: "SB 386"
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citation: "Virginia SB 386 (2022)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Ryan T. McDougle"]
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version_count: 4
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action_count: 29
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vote_count: 6
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first_action: "2022-01-11"
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last_action: "2022-04-11"
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source: "openstates"
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source_identifier: "ocd-bill/cc79c57f-450c-4ed4-9a52-b52631fc0f75"
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source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+SB386"
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source_hash: "44e60a588e9366522659f2c51dd5cba1e8a59ae7061bbb08056e8e5fd7660711"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-va"]
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---
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# Virginia SB 386 (2022) — Income tax, corporate; filing status for tax returns of certain affiliated corporations.
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Corporate income tax returns of affiliated corporations. Provides that, for taxable years 2023 and 2024, certain affiliated corporations may elect to switch to or from consolidated corporate income tax return filing status under certain conditions, including the requirement that the affiliated group filed on the same basis for the preceding 20 years. The option would be available only to a group with at least one affiliate that is a bank exempt from filing a Virginia corporate income tax return. Current law requires a group of corporations to apply to the Tax Commissioner for permission to change the basis of the type of return filed and to meet certain specified requirements in order for permission to be granted. This bill is identical to HB 224.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **CHAP0417** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+CHAP0417)
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2. **Prefiled and ordered printed; offered 01/12/22 22101610D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB386)
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3. **Printed as engrossed 22101610D-E** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB386E)
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4. **SB386ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB386ER)
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## Votes
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- Passed Senate (40-Y 0-N) — **40–0** (pass) · upper
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- Reported from Finance (22-Y 0-N) — **22–0** (pass) · lower
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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- VOTE: Passage (93-Y 5-N) — **92–5** (pass) · lower
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- Reported from Finance and Appropriations with amendment (16-Y 0-N) — **16–0** (pass) · upper
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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## Sponsors
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- Ryan T. McDougle — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2022-01-11** Prefiled and ordered printed; offered 01/12/22 22101610D `introduction`
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- **2022-01-11** Referred to Committee on Finance and Appropriations `referral-committee`
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- **2022-01-30** Impact statement from TAX (SB386)
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- **2022-02-08** Senate subcommittee amendments and substitutes offered
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- **2022-02-10** Reported from Finance and Appropriations with amendment (16-Y 0-N) `committee-passage`
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- **2022-02-11** Constitutional reading dispensed (40-Y 0-N)
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- **2022-02-14** Read second time `reading-2`
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- **2022-02-14** Reading of amendment waived
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- **2022-02-14** Committee amendment agreed to
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- **2022-02-14** Engrossed by Senate as amended SB386E
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- **2022-02-14** Printed as engrossed 22101610D-E
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- **2022-02-14** Constitutional reading dispensed (40-Y 0-N)
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- **2022-02-14** Passed Senate (40-Y 0-N) `passage`
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- **2022-02-18** Placed on Calendar
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- **2022-02-18** Read first time `reading-1`
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- **2022-02-18** Referred to Committee on Finance `referral-committee`
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- **2022-02-18** Impact statement from TAX (SB386E)
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- **2022-02-21** Reported from Finance (22-Y 0-N) `committee-passage`
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- **2022-02-23** Read second time `reading-2`
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- **2022-02-24** Read third time `reading-3`
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- **2022-02-24** Passed House (93-Y 5-N) `passage`
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- **2022-02-24** VOTE: Passage (93-Y 5-N)
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- **2022-02-28** Enrolled
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- **2022-02-28** Signed by President
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- **2022-02-28** Signed by Speaker
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- **2022-03-03** Impact statement from TAX (SB386ER)
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- **2022-03-11** Enrolled Bill Communicated to Governor on March 11, 2022
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- **2022-03-11** Governor's Action Deadline 11:59 p.m., April 11, 2022
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- **2022-04-11** Approved by Governor-Chapter 417 (effective 7/1/22) `executive-signature`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/cc79c57f-450c-4ed4-9a52-b52631fc0f75`. Confidence: reported (aggregated from official Virginia legislature records).
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