Corporate welfare tax; imposes on large employers a tax equal to 100% of qualified employee benefit.
About This Bill
Latest Action · Jul 21, 2026
Continued from last session
Session
2027
Introduced
Jan 8, 2026
Primary Sponsor
Joshua G. Cole· primary
Summary
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A BILL to amend and reenact § 2.2-3905 of the Code of Virginia and to amend the Code of Virginia by adding in Chapter 17 of Title 58.1 an article numbered 13, consisting of a section numbered 58.1-1749, relating to corporate welfare tax.
Corporate welfare tax. Imposes on large employers, as defined in the bill, a corporate welfare tax equal to 100 percent of the qualified employee benefits received by any employees of such large employer residing in the Commonwealth. The bill directs the Department of Taxation to obtain identifying data for individuals receiving qualified federal benefits, as defined by the bill, from the Department of Social Services pursuant to an interagency agreement and to compare such data to employment rosters received quarterly from large employers to determine the amount of qualified federal benefits received by employees of such large employers. The bill also prohibits an employer, in connection with the selection or referral of applicants or candidates for employment, to make inquiries or otherwise seek information relating to whether such applicant receives qualified federal benefits.