"A. Out of the amounts in this paragraph, $419,360,000 the first year from the general fund shall be deposited to the Tax Reform Fund established by the eighth enactment of this act for the purpose of issuing individual income tax refunds. For taxable years beginning on and after January 1, 2018, but before January 1, 2019, an individual filing a return before July 1, 2019, or married persons filing a joint return before July 1, 2019, shall be issued a refund out of the Tax Reform Fund in an amount up to $110 for an individual, or $220 for married persons filing a joint return. An individual shall only be allowed a refund up to the amount of such individual's tax liability after the application of any deductions, subtractions, or credits to which the individual is entitled pursuant to Chapter 3 (§ 58.1-300 et seq.) of Title 58.1 of the Code of Virginia. Married persons filing a joint return shall only be allowed a refund up to the amount of such married persons' tax liability after the application of any deductions, subtractions, or credits to which the married persons are entitled pursuant to Chapter 3 of Title 58.1 of the Code of Virginia.

B. Out of the amounts in this Item, $80,440,000 the first year from the general fund is provided to effectuate temporary or permanent tax reform during the 2020-2022 biennium."