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SUBCOMMITTEE
1. Line 23, introduced, after B.
strike
the remainder of line 23 and all of lines 24 through 31
insert
For taxable years beginning on and after January 1, 2022, but before
January 1, 2023, an eligible small business may claim a nonrefundable credit
against the tax levied pursuant to ยงยง 58.1-320 and 58.1-400 equal to the amount
of Virginia income tax owed on up to $250,000 of income during such taxable
year.