Income tax, state, etc.; tax credit for taxpayers employing persons in STEM internship positions. (HB1049)
Introduced By
Del. Rich Anderson (R-Woodbridge) with support from 9 copatrons, whose average partisan position is:
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; STEM (science, technology, engineering, or mathematics) internship tax credit. Establishes an individual and corporate income tax credit for taxpayers employing persons in STEM internship positions in the Commonwealth. The bill requires the intern to have an associate's or bachelor's degree in a STEM discipline or to be a graduate of a STEM trade school. In addition, the person's STEM internship with the taxpayer must be for a definite period that does not exceed 12 months. Taxpayers hiring STEM interns would be eligible for a tax credit equal to 25 percent of the wages or salary paid to the intern. Taxpayers would apply to the Department of Taxation for the tax credit. The Department would issue tax credits by providing a written certification to the taxpayer that reports the amount of tax credit that may be claimed. The Department would not be allowed to issue more than $2 million in tax credits during any fiscal year. The Department would be allowed to issue tax credits only for fiscal years 2013 through 2017. View Full Text »
Outcome
History
- 01/11/2012 Prefiled and ordered printed; offered 01/11/12 12100302D
- 01/11/2012 Referred to Committee on Finance
- 02/02/2012 Impact statement from TAX (HB1049)
- 02/06/2012 Continued to 2013 in Finance
- 11/29/2012 Left in Finance
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