Income tax, corporate; apportionment for manufacturers. (HB2437)

Introduced By

Del. Kathy Byron (R-Lynchburg) with support from 13 copatrons, whose average partisan position is:

Progress

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

Description

Corporate income tax; apportionment for manufacturers. Allows manufacturers to elect an apportionment formula of multiplying their income by the sales factor or using the formula prescribed for other businesses, whether the manufacturers have a sales factor or not. The provisions of the bill would be effective beginning July 1, 2010, and would be phased in with the apportionment formula having a 100 percent sales factor by 2013. Amends § 58.1-408 (“What income apportioned and how.”), § 58.1-422 (“Manufacturing companies; apportionment.”), of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

View Bill's History

01/14/2009 Committee
01/14/2009 Prefiled and ordered printed; offered 01/14/09 092221448
01/14/2009 Referred to Committee on Finance
01/24/2009 Impact statement from TAX (HB2437)
02/02/2009 Reported from Finance (22-Y 0-N) (see vote tally)
02/02/2009 Referred to Committee on Appropriations
02/03/2009 Assigned App. sub: Economic Development, Agriculture and Natural Resources(Cox)
02/05/2009 Subcommittee recommends reporting
02/06/2009 Reported from Appropriations (23-Y 0-N) (see vote tally)
02/08/2009 Read first time
02/09/2009 Read second time and engrossed
02/10/2009 Impact statement from TAX (HB2437)
02/10/2009 Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/10/2009 VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/10/2009 Reconsideration of passage agreed to by House
02/10/2009 Passed House BLOCK VOTE (99-Y 0-N)
02/10/2009 VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/11/2009 Constitutional reading dispensed
02/11/2009 Referred to Committee on Finance
02/17/2009 Committee substitute printed 092931324-S1
02/17/2009 Reported from Finance with substitute (16-Y 0-N) (see vote tally)
02/18/2009 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/18/2009 Read third time
02/18/2009 Reading of substitute waived
02/18/2009 Committee substitute agreed to 092931324-S1
02/18/2009 Engrossed by Senate - committee substitute HB2437S1
02/18/2009 Passed Senate with substitute (40-Y 0-N) (see vote tally)
02/18/2009 Placed on Calendar
02/18/2009 Passed by temporarily
02/18/2009 Senate substitute agreed to by House 092931324-S1 (88-Y 0-N)
02/18/2009 VOTE: --- ADOPTION (88-Y 0-N) (see vote tally)
02/23/2009 Enrolled
02/23/2009 Bill text as passed House and Senate (HB2437ER)
02/23/2009 Impact statement from TAX (HB2437ER)
02/24/2009 Signed by Speaker
02/25/2009 Signed by President
03/30/2009 Governor's recommendation received by House
04/07/2009 Placed on Calendar
04/08/2009 Enacted, Chapter 820 (effective 7/1/09)
04/08/2009 House concurred in Governor's recommendation (96-Y 0-N)
04/08/2009 VOTE: --- ADOPTION (96-Y 0-N) (see vote tally)
04/08/2009 Senate concurred in Governor's recommendation (40-Y 0-N) (see vote tally)
04/08/2009 G Governor's recommendation adopted
04/08/2009 Reenrolled
04/08/2009 Reenrolled bill text (HB2437ER2)
04/08/2009 Signed by Speaker as reenrolled
04/08/2009 Signed by President as reenrolled
04/08/2009 Enacted, Chapter 821 (effective 7/1/09)
04/08/2009 G Acts of Assembly Chapter text (CHAP0821)
04/14/2009 Reenrolled
04/14/2009 Reenrolled bill text (HB2437ER2)

Comments

Virginia Interfaith Center for Public Policy, tracking this bill in Photosynthesis, notes:

The Virginia Interfaith Center opposes this bill.

Posted 41 months ago. #

Virginia Biotechnology Association, tracking this bill in Photosynthesis, notes:

VaBIO Supports.

Posted 40 months ago. #

David Wright writes:

I support this bill. The manufacturing sector is critical to the future of Virginia and so is the ability of its residents to find and keep their JOBS.

Posted 40 months ago. #

Poll Results

3 votes

Bill Text

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