Income tax, corporate; employer-provided commuting benefits tax credit. (SB661)
Introduced By
Sen. Yvonne Miller (D-Norfolk)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; employer-provided commuting benefits tax credit. Grants an income tax credit for taxable years beginning on or after January 1, 2007, to employers who pay employees' eligible commuting expenses, which include multiple-passenger vehicle and mass transit transportation costs, parking fees, and showers and bike rack installation costs. The credit equals 40% of such costs, not to exceed $240 per employee each year. Unused credits may be carried over for five years. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/18/2006 | Presented and ordered printed 069827768 |
01/18/2006 | Referred to Committee on Finance |
01/29/2006 | Fiscal impact statement from TAX (SB661) |
02/08/2006 | Stricken at request of Patron in Finance (15-Y 0-N) |