Historic rehabilitation tax credit; certain income under federal law is not income for State tax. (HB531)

Introduced By

Del. Mark Cole (R-Fredericksburg) with support from co-patron Del. Scott Garrett (R-Lynchburg)

Progress

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

Description

Historic rehabilitation tax credit.  Provides that any gain or income under federal law relating to the allocation or application of a historic rehabilitation tax credit would not be gain or income for Virginia tax purposes. The bill's provisions are declaratory of existing law. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2012Committee
01/10/2012Prefiled and ordered printed; offered 01/11/12 12103664D
01/10/2012Referred to Committee on Finance
01/20/2012Assigned Finance sub: #3
01/23/2012Impact statement from TAX (HB531)
01/27/2012Subcommittee recommends reporting with amendment(s) (5-Y 0-N)
02/06/2012Reported from Finance with amendments (22-Y 0-N) (see vote tally)
02/07/2012Read first time
02/08/2012Read second time
02/08/2012Committee amendments agreed to
02/08/2012Engrossed by House as amended HB531E
02/08/2012Printed as engrossed 12103664D-E
02/09/2012Read third time and passed House (97-Y 0-N 1-A)
02/09/2012VOTE: PASSAGE (97-Y 0-N 1-A) (see vote tally)
02/10/2012Constitutional reading dispensed
02/10/2012Referred to Committee on Finance
02/14/2012Impact statement from TAX (HB531E)
02/15/2012Reported from Finance (15-Y 0-N) (see vote tally)
02/16/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/17/2012Read third time
02/17/2012Passed Senate (38-Y 2-N) (see vote tally)
02/21/2012Enrolled
02/21/2012Bill text as passed House and Senate (HB531ER)
02/21/2012Impact statement from TAX (HB531ER)
02/21/2012Signed by Speaker
02/22/2012Signed by President
03/06/2012G Approved by Governor-Chapter 92 (effective 7/1/12)
03/06/2012G Acts of Assembly Chapter text (CHAP0092)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.

Duplicate Bills

The following bills are identical to this one: SB444.