Sunday, July 20, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB2820: Biotechnology Investment Tax Credit; created.
Chief Patron
Del.
Mark Sickles (D-43)
Mark Sickles
(D-43)
Alexandria, VA
Served: 2004–
Progress
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Introduced |
 |
Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
Summary
Virginia Biotechnology Investment Tax Credit. Creates a research and development tax credit, not to exceed 50% of the tax liability due and not to exceed $500,000, for biotechnology companies in Virginia and permits the credit to be carried over for up to 10 years, for taxable years beginning on and after January 1, 2007. This tax credit, not to exceed 15% of the qualified investment, can be claimed for each of the five tax years beginning on and after January 1, 2007. In no event will more than $5 million in either of the credits be allowed annually.
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