Biosciences and other technology industries; qualified equity and subordinated debt investments. (HB2455)

Introduced By

Del. John O'Bannon (R-Richmond)

Progress

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

Description

Development of the biosciences and other technology industries in the Commonwealth; qualified equity and subordinated debt investments tax credit. Redefines "qualified business" for purposes of investments eligible for the tax credit. The bill also allocates half of the available credits for investments in qualified businesses that were created to commercialize technology-related research developed at or in partnership with an institution of higher education. This bill is a recommendation of the Joint Subcommittee Studying Biosciences and Biotechnology in the Commonwealth (HJ 248). Amends § 58.1-339.4 (“Qualified equity and subordinated debt investments tax credit.”), of the Code of Virginia. View Full Text »

Outcome

Bill Has Failed
View Bill's History

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