2024 Session

Budget Amendments - SB29 (Floor Approved)

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Bank Franchise Tax Modernization

Item 274 #1s

Item 274 #1s

First Year - FY2023 Second Year - FY2024
Department of Taxation FY2023 $0 FY2024 $546,540 GF

Page 93, line 20, strike "$64,590,357" and insert "$65,136,897".


(This amendment provides $546,540 the second year from the general fund for the implementation of electronic filing for Virginia's Bank Franchise Tax through a secure electronic portal maintained by the Department of Taxation (authorized in the 2023 Session). The final budget did not reflect funding to meet the total funding need. It is the intent that this Item be properly set out upon enrolling.)