Income tax, state; tax credit for waste motor oil/fluids reclamation systems. (HB1470)

Introduced By

Del. Chris Saxman (R-Staunton)

Progress

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

Description

Income tax; tax credit for waste motor oil/fluids reclamation systems. Adds waste motor oil/fluids reclamation systems to the current credit for waste motor oil burning equipment that a business purchases. The credit may not exceed $5,000 annually and the effective date for the purchase of reclamation systems is for taxable years beginning on or after January 1, 2007. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/19/2006Presented and ordered printed 068864496
01/19/2006Referred to Committee on Finance
01/24/2006Assigned to Finance sub-committee: #3 (Ware, R.L.)
02/02/2006Fiscal impact statement from TAX (HB1470)
02/15/2006Left in Finance