Finance Committee

Finance Committee

Summary

Meets on: Monday and Wednesday at 8:30 a.m. (Monday) Subcommittees meeting in lieu of full committee – (Wednesday) House Committee Room 1/2 hour after adjournment in House Committee Room

Members Vivian  Watts (Chair) – Hala Ayala – Kathy Byron – Ronnie Campbell – Lee Carter – Budd Fowler – Todd Gilbert – Steve Heretick – Sally Hudson – Mark Keam – Kaye Kory – Joe McNamara – Martha Mugler –   Kathleen Murphy – Bobby Orrock – Charles Poindexter – Don Scott – Rip Sullivan – Lee Ware – Tommy Wright

12 Democrats and 8 Republicans

Subcommittees:

  • Subcommittee #1
  • Subcommittee #2
  • Subcommittee #3

About

Web

VA Legislative Information Systems (LIS), House Committee pages

Subcommittees

Subcommittee #1

Meets on:  Monday at 8:30 a.m. in Shared Committee Room

Members:  Mark Keam (Chair),  Hala AyalaKathy ByronRonnie CampbellLee Carter,  Budd Fowler,   Kaye Kory,   Don Scott,  Lee Ware

Subcommittee #2

Meets on:  Monday at 8:30 a.m. in House Room 1

MembersSteve Heretick (Chair),   Lee Carter,  Sally Hudson,  Joe McNamaraMartha MuglerKathleen MurphyBobby OrrockCharles Poindexter,   Rip Sullivan,   Tommy Wright

Subcommittee #3

Meets on:   Friday at 7:30 a.m. in House Room 1

Members:  Rip Sullivan (Chair),  Todd GilbertSteve HeretickMark Keam,  Bobby Orrock,    Lee Ware,  Vivian  Watts

Bills in committee   

(none at this time)

Bills in committee   

(none at this time)

Bills reported out 

HB 1969 – Administration of blighted and derelict properties (January 27, 2021)

  • Delegate Carr sponsored a bill that which modifies the definition of “qualifying locality” to include any locality with a score of 100 or higher on the fiscal stress index.
  • Voted to report bill 16 – Yeas 0 – Nays.

HB 2293 – Local gas severance tax; extends sunset date (January 27, 2021)

  • Delegate Morefield sponsored a bill that which extends the sunset date from January 1, 2022 to January 1, 2024 to impose an additional local gas severance tax.
  • Voted to report bill 21 – Yeas 0 – Nays.

HB 2006 – Energy storage systems; tax exemptions (January 27, 2021)

  • Delegate Heretick sponsored a bill that which emphasizes that energy storage systems are a separate class of property and exempt from state and local taxation.
  • Voted to report bill with substitute 18 – Yeas 2 – Nays 1 – Abs.

HB 2269 – Solar energy revenue share for projects (January 27, 2021)

  • Delegate Heretick sponsored a bill that which provides that every five years the maximum amount of the revenue that a locality may impose on certain solar energy projects shall be adjusted by the CPI-U.
  • Voted to report bill with substitute 18 – Yeas 2 – Nays.

HB 1763 – Tax credit; agricultural best management practices (January 27, 2021)

  • Delegate Heretick sponsored a bill that which allows the creation of an enhanced individual corporate income tax beginning in taxable year 2021 for agricultural best management practices.
  • Voted to report bill and refer to Appropriations Committee 21 – Yeas 0 – Nays.

HB 1884 – Facilitated enrollment program (January 27, 2021)

  • Delegate Sickles sponsored a bill that which directs the Department of Taxation to include space on individual income tax forms for voluntary inclusion of personal and contract information
  • Voted to report bill with technical amendments 19 – Yeas 2 – Nays.

HB 1899 – Coal tax credits; sunset date (January 27, 2021)

  • Delegate Hudson sponsored a bill that which extends the Coal Employment and Production INcentive Tax Credit and Coalfield Employment Enhancement Tax Credit after tax year 2020.
  • Vote to report bill with substitute 13 – Yeas 8 – Nays.

 

 

Bills passed

Commissions & Boards

Joint Legislative Audit & Review Commission

Source: Webpage

The Joint Legislative Audit and Review Commission (JLARC) is a key component of the legislative oversight function in Virginia. Legislative oversight is an important part of government accountability. It is how the Virginia General Assembly ensures that the funds it has appropriated are used effectively and efficiently by state and local agencies. Legislative oversight is also how the General Assembly assesses the performance of the agencies and programs it creates.

Auditor of Public Accounts (APA)

Source: Website

The Auditor of Public Accounts (APA) is the legislative external auditor for the Commonwealth of Virginia’s agencies, colleges, universities and municipal courts.

Governor’s Advisory Council on Revenue Estimates

Source: Webpage

Review revenue estimates with respect to economic assumptions and the general climate of the Commonwealth.

Joint Subcommittee on Local Government Fiscal Stress

Source: Webpage

The goals and objectives of the Joint Subcommittee will be to review (i) savings opportunities from increased regional cooperation and consolidation of services, including by jointly operating or merging small school divisions; (ii) local responsibilities for service delivery of state-mandated or high priority programs, (iii) causes of fiscal stress among local governments, (iv) potential financial incentives and other governmental reforms to encourage increased regional cooperation; and (v) the different taxing authorities of cities and counties.

Joint Subcommittee to Evaluate Tax Preferences

Source: Webpage

To oversee the evaluation of Virginia’s tax preferences, including but not limited to tax credits, deductions, subtractions, exemptions, and exclusions.

Board of Trustees Veterans Services Foundation

Source: Webpage

The Foundation shall (i) administer the Veterans Services Fund (the Fund), (ii) provide funding for veterans services and programs in the Commonwealth through the Fund, and (iii) raise revenue from all sources including private source fundraising to support the Fund.

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