Income tax, state; exemption for launch services and payload to space flight participants. (HB238)

Introduced By

Del. John Cosgrove (R-Chesapeake) with support from co-patron Del. Lynwood Lewis (D-Accomac)

Progress

√
 Introduced
√
 Passed Committee
√
 Passed House
√
 Passed Senate
√
 Signed by Governor
√
 Became Law

Description

Income tax exemption for launch services and payload. Grants an income tax exemption for income resulting from the sale of launch services to space flight participants or launch services intended to provide individuals the training or experience of a launch, without performing an actual launch. The bill also grants an income tax exemption for any gain recognized as a result of resupply services contracts for delivering payload entered into with the Commercial Orbital Transportation Services division of the National Aeronautics and Space Administration or other space flight entity. Amends § 58.1-322, § 58.1-402, of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

History

  • 12/28/2007 Committee
  • 12/28/2007 Prefiled and ordered printed; offered 01/09/08 075750162
  • 12/28/2007 Referred to Committee on Finance
  • 01/12/2008 Impact statement from TAX (HB238)
  • 01/15/2008 Assigned Finance sub: 2
  • 02/04/2008 Reported from Finance with substitute (22-Y 0-N) (see vote tally)
  • 02/04/2008 Committee substitute printed 081922472-H1
  • 02/05/2008 Read first time
  • 02/06/2008 Read second time
  • 02/06/2008 Committee substitute agreed to 081922472-H1
  • 02/06/2008 Engrossed by House - committee substitute HB238H1
  • 02/07/2008 Read third time and passed House BLOCK VOTE (99-Y 0-N)
  • 02/07/2008 VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
  • 02/07/2008 Communicated to Senate
  • 02/08/2008 Constitutional reading dispensed
  • 02/08/2008 Referred to Committee on Finance
  • 02/15/2008 Impact statement from TAX (HB238H1)
  • 02/19/2008 Reported from Finance (15-Y 0-N)
  • 02/20/2008 Constitutional reading dispensed (40-Y 0-N)
  • 02/21/2008 Read third time
  • 02/21/2008 Passed Senate (39-Y 0-N)
  • 02/21/2008 Reconsideration of Senate passage agreed to by Senate (39-Y 0-N)
  • 02/21/2008 Passed Senate (40-Y 0-N) (see vote tally)
  • 02/25/2008 Enrolled
  • 02/25/2008 Bill text as passed House and Senate (HB238ER)
  • 02/25/2008 Signed by Speaker
  • 02/26/2008 Signed by President
  • 02/27/2008 Impact statement from TAX (HB238ER)
  • 03/03/2008 G Approved by Governor-Chapter 210 (effective 7/1/08)
  • 03/03/2008 G Approved by Governor-Chapter 211 (effective 7/1/08)
  • 03/06/2008 G Acts of Assembly Chapter text (CHAP0211)

Duplicate Bills

The following bills are identical duplicates of this one: HB351, HB874, SB286 and SB401.