Income tax credits; landlords participating in housing choice voucher programs. (HB764)

Introduced By

Del. Jennifer McClellan (D-Richmond) with support from co-patrons Del. Delores McQuinn (D-Richmond), Del. Chris Peace (R-Mechanicsville), and Del. Jeion Ward (D-Hampton)

Progress

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

Description

Income tax credits; landlords participating in housing choice voucher programs. Establishes an individual and corporate income tax credit beginning with the 2010 taxable year for landlords who participate in a housing choice voucher program. Eligible landlords would receive a tax credit equal to 10 percent of the fair market value of the rent for each qualified housing unit. Qualified housing units would be dwelling units located in the Richmond Metropolitan Statistical Area that are included in a housing choice voucher program.

The Department of Housing and Community Development would administer the tax credit. The Department would not be allowed to issue more than $400,000 in tax credits in any fiscal year. Tax credits would be allowed only for that portion of the taxable year in which a dwelling unit was included in a housing choice voucher program. The bill provides a five-year carryforward period for unused tax credits. Amends § 36-55.63, § 58.1-435, § 58.1-439.12:03, of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

History

  • 01/12/2010 Committee
  • 01/12/2010 Prefiled and ordered printed; offered 01/13/10 10103923D
  • 01/12/2010 Referred to Committee on Finance
  • 01/19/2010 Assigned Finance sub: #3
  • 01/25/2010 Assigned Finance sub: #3
  • 01/25/2010 Impact statement from DPB (HB764)
  • 02/09/2010 Subcommittee recommends reporting with amendment(s) (4-Y 0-N)
  • 02/10/2010 Reported from Finance with amendments (18-Y 4-N) (see vote tally)
  • 02/12/2010 Read first time
  • 02/15/2010 Read second time
  • 02/15/2010 Committee amendments 1, 2, 3 and 4 agreed to
  • 02/15/2010 Committee amendment #5 rejected
  • 02/15/2010 Committee amendment #5 reconsidered
  • 02/15/2010 Committee amendment #5 agreed to
  • 02/15/2010 Amendment by Delegate McClellan withdrawn
  • 02/15/2010 Engrossed by House as amended HB764E
  • 02/15/2010 Printed as engrossed 10103923D-E
  • 02/16/2010 Impact statement from DPB (HB764E)
  • 02/16/2010 Read third time and passed House (94-Y 4-N)
  • 02/16/2010 VOTE: --- PASSAGE (94-Y 4-N) (see vote tally)
  • 02/17/2010 Constitutional reading dispensed
  • 02/17/2010 Referred to Committee on General Laws and Technology
  • 02/24/2010 Rereferred from General Laws and Technology (13-Y 0-N) (see vote tally)
  • 02/24/2010 Rereferred to Finance
  • 03/02/2010 Reported from Finance with amendment (15-Y 0-N) (see vote tally)
  • 03/03/2010 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
  • 03/03/2010 Read third time
  • 03/03/2010 Reading of amendment waived
  • 03/03/2010 Committee amendment agreed to
  • 03/03/2010 Engrossed by Senate as amended
  • 03/03/2010 Passed Senate with amendment (39-Y 0-N) (see vote tally)
  • 03/03/2010 Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
  • 03/03/2010 Passed Senate with amendment (40-Y 0-N) (see vote tally)
  • 03/03/2010 Senate amendment agreed to by House (93-Y 3-N)
  • 03/03/2010 VOTE: --- ADOPTION (93-Y 3-N) (see vote tally)
  • 03/10/2010 Enrolled
  • 03/10/2010 Bill text as passed House and Senate (HB764ER)
  • 03/11/2010 Signed by Speaker
  • 03/13/2010 Signed by President
  • 03/30/2010 Impact statement from DPB (HB764ER)
  • 04/11/2010 G Approved by Governor-Chapter 520 (effective 7/1/10)
  • 04/11/2010 G Acts of Assembly Chapter text (CHAP0520)

Duplicate Bills

The following bills are identical duplicates of this one: SB458.