Third enacement of Chapter 637 of the 1994 Acts of Assembly amended. Income tax; voluntary contribution to the Community Policing Fund. Eliminates the sunset date of December 31, 1999, for the income tax check-off for contributions to the Community Policing Fund. HB 1491; CH. 23.

First and second enactments of Chapter 644 of the 1998 Acts of Assembly reenacted. Corporate income tax; apportionment. Reenacts legislation enacted by the 1998 Session which revised the formula for calculating the portion of a corporation's income that is subject to the Virginia corporate income tax. Currently, Virginia generally uses a three-factor test by which the total of the property factor, payroll factor, and sales factor is divided by three. Under this measure the sales factor is double-weighted, with the result that, when all three factors are present, the property factor, payroll factor, and twice the sales factor will be divided by four. The measure is effective for taxable years beginning on and after January 1, 2000, unless one of the circuit breakers in the Personal Property Tax Relief Act of 1998 has occurred prior to that date. If such an event has occurred, the effective date will be postponed until January 1 after the year when a circuit-breaking effect has not occurred. SB 1076; CH. 158 (effective-see bill).