VA's ports-related tax credits; increases annual amount of international trade facility tax credits. (HB873)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Ports tax credits. Changes Virginia's ports-related tax credits by increasing the annual amount of international trade facility tax credits that may be issued from $250,000 to $1.25 million, decreasing the annual amount of barge and rail usage tax credits that may be issued from $1.5 million to $500,000, and allowing a taxpayer to be eligible for the port volume increase tax credit and the barge and rail usage tax credit if the taxpayer meets the criteria for both. The bill reduces from 10 percent to five percent the minimum annual increase in cargo transported through a maritime port that is a condition of eligibility for the international trade facility tax credit. The bill also makes roll-on/roll-off cargo eligible for the international trade facility, port volume increase, and barge and rail usage tax credits. The provisions of the bill would become effective for taxable years beginning on or after January 1, 2014. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/08/2014 | Committee |
01/08/2014 | Prefiled and ordered printed; offered 01/08/14 14102617D |
01/08/2014 | Referred to Committee on Finance |
01/27/2014 | Impact statement from TAX (HB873) |
02/03/2014 | Reported from Finance (20-Y 0-N) (see vote tally) |
02/04/2014 | Read first time |
02/05/2014 | Passed by for the day |
02/06/2014 | Read second time and engrossed |
02/07/2014 | Read third time and passed House BLOCK VOTE (97-Y 0-N) |
02/07/2014 | VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally) |
02/10/2014 | Constitutional reading dispensed |
02/10/2014 | Referred to Committee on Finance |
02/14/2014 | Impact statement from TAX (HB873) |
02/25/2014 | Reported from Finance (17-Y 0-N) (see vote tally) |
02/26/2014 | Constitutional reading dispensed (38-Y 0-N) |
02/27/2014 | Read third time |
02/27/2014 | Passed Senate (40-Y 0-N) |
03/04/2014 | Enrolled |
03/04/2014 | Bill text as passed House and Senate (HB873ER) |
03/04/2014 | Signed by Speaker |
03/06/2014 | Impact statement from TAX (HB873ER) |
03/07/2014 | Signed by President |
03/31/2014 | G Approved by Governor-Chapter 423 (effective 1/1/14) |
03/31/2014 | G Acts of Assembly Chapter text (CHAP0423) |