License tax credit; credit against state license tax liability on certain insurance companies. (HB1384)

Introduced By

Del. Don Merricks (R-Danville) with support from co-patrons Del. Barbara Comstock (R-McLean), Del. David Englin (D-Alexandria), and Del. Tim Hugo (R-Centreville)

Progress

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

Description

  State insurance license tax credit.  Provides a tax credit against the state license tax liability on certain insurance companies for investments in Virginia small business investment companies.  The tax credit will be administered by the Tax Commissioner.  The tax credit is capped at $20 million per year and may not exceed $100 million for the life of the program.   View Full Text »

Outcome

Bill Has Failed
View Bill's History

Comments

robert legge writes:

Looks like a lot of yellow on this bill. I can't figure it out. It says "certain insurance companies" in the heading, but is this tax credit for other companies too? This is a lot of money. Why no FIS?

Posted 25 months ago.