Commending Blake Corum.
Del. Paul Krizek
Sponsored bills
Commending Dr. Ben Fitzgerald III.
Commending the ASK Childhood Cancer Foundation.
Official emblems and designations; cat; domesticshorthair. Designates the domestic shorthair as the officialcat of the Commonwealth.
Recordation tax revenues; land protection andpreservation. Provides that beginning July 1, 2026, after requireddistributions for transportation and localities under current law,up to $200 million of the remaining recordation tax revenues shallbe distributed for specified land protection and preservation purposes.
Income tax; Foreign Service retirement benefits subtraction. Establishes for certain individuals receiving ForeignService retirement benefits an income tax subtraction of such benefitsup to $5,000 in taxable year 2024, up to $10,000 in taxable year2025, up to $15,000 in taxable year 2026, and up to $20,000 in taxableyear 2027 and each taxable year thereafter. The bill defines ForeignService retirement benefits as any retirement income received byan individual for employment in the Foreign Service of the UnitedStates and as an eligible member of the Foreign Service Retirementand Disability System or the Foreign Service Pension System.
Tax credit; solar energy equipment. Establishesa nonrefundable income tax credit for taxable years 2024 through2028 for individuals who incur allowable expenses, as defined inthe bill, for the purchase and installation of solar energy equipment,as defined in the bill. An individual who properly claims this creditshall be allowed a credit in the amount of up to 15 percent of thecost of such equipment and allowable expenses, up to $1,000.
Income tax deduction; union dues. Providesan income tax deduction beginning in taxable year 2024 for the amount paid by an individual for union dues for participation in a labor organization.
Legal holidays; Indigenous Peoples' Day.Replaces Columbus Day, the second Monday in October, with IndigenousPeoples' Day as a state holiday.
Content manufacturing tax credit. Removes the sunset for the motion picture tax credit, which currently is set to expire after taxable year 2026, and expands and redesignates the tax credit as the content manufacturing tax credit. The bill increases the total amount of credits that can be allocated to taxpayers to $46.5 million beginning in fiscal year 2024; however, should less than $100 million worth of certain new investments, as described by the bill, occur in Virginia by January 1, 2027, the cap will be reduced to $10 million per fiscal year. The bill also amends the definition of the "qualifying expenses" eligible for the content manufacturing tax credit to mean certain amounts spent in connection with the production of an eligible project filmed in the Commonwealth. The bill defines "eligible project" to be the production of a motion picture or an episodic television series.