Income tax, state; deduction for energy-efficient equipment. (HB744)

Introduced By

Del. Chuck Caputo (D-Oak Hill) with support from co-patrons Del. Joe Bouchard (D-Virginia Beach), and Sen. Dave Marsden (D-Burke)

Description

Income tax; energy-efficient equipment deduction. Provides an income tax deduction for taxable years beginning on or after January 1, 2008, to individuals who purchase energy-efficient equipment used for heating, cooling, and providing electricity to their residences. The amount of the deduction equals 50% of such equipment expenditures, but not more than $7,500 total. Amends § 58.1-322 (“Virginia taxable income of residents.”), of the Code of Virginia. View Full Text »

Outcome

2 votes