Income tax, corporate; basis by which TAX shall assess manufacturing companies with additional tax. (HB460)

Introduced By

Del. Kathy Byron (R-Lynchburg) with support from co-patron Del. Gordon Helsel (R-Poquoson)

Progress

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

Description

Corporate income tax; single sales factor apportionment for income of manufacturers.  Repeals the additional taxes, penalties, and interests that would have been assessed on any manufacturer that elected the single sales factor apportionment for income and that did not maintain certain employment levels. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2012Committee
01/10/2012Prefiled and ordered printed; offered 01/11/12 12102883D
01/10/2012Referred to Committee on Finance
01/20/2012Assigned Finance sub: #2
01/27/2012Impact statement from TAX (HB460)
02/06/2012Reported from Finance (22-Y 0-N) (see vote tally)
02/07/2012Read first time
02/08/2012Read second time and engrossed
02/09/2012Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/09/2012VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/10/2012Constitutional reading dispensed
02/10/2012Referred to Committee on Finance
02/20/2012Impact statement from TAX (HB460)
02/28/2012Reported from Finance with substitute (15-Y 0-N) (see vote tally)
02/28/2012Committee substitute printed 12105707D-S1
02/29/2012Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/01/2012Read third time
03/01/2012Reading of substitute waived
03/01/2012Committee substitute agreed to 12105707D-S1
03/01/2012Engrossed by Senate - committee substitute HB460S1
03/01/2012Reconsideration of Senate passage agreed to by Senate (39-Y 0-N) (see vote tally)
03/01/2012Passed Senate with substitute (40-Y 0-N) (see vote tally)
03/02/2012Placed on Calendar
03/05/2012Senate substitute agreed to by House 12105707D-S1 (98-Y 0-N)
03/05/2012VOTE: ADOPTION (98-Y 0-N) (see vote tally)
03/08/2012Enrolled
03/08/2012Bill text as passed House and Senate (HB460ER)
03/08/2012Signed by Speaker
03/09/2012Impact statement from TAX (HB460ER)
03/09/2012Signed by President
03/30/2012G Approved by Governor-Chapter 427 (effective 7/1/12)
03/30/2012G Acts of Assembly Chapter text (CHAP0427)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 4 minutes.

Comments

Laura Dely writes:

We can not afford to reduce any revenue source at this time.

Posted 149 months ago.