Retail Sales and Use Tax; exemptions include certain wireless & broadband equipment. (HB2803)

Introduced By

Del. Kathy Byron (R-Lynchburg) with support from 6 copatrons, whose average partisan position is:

Those copatrons are Del. Ward Armstrong (D-Martinsville), Del. Steve Landes (R-Weyers Cave), Del. Lacey Putney (I-Bedford), Del. Rob Wittman (R-Montross), Sen. Lynwood Lewis (D-Accomac), Sen. Steve Newman (R-Forest)

Progress

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

Description

Income tax and sales and use tax; tax preferences for certain telecommunications service providers. Creates an income tax credit and sales and use tax exemption for wireless and broadband equipment purchased by telecommunications providers for use within rural areas of the Commonwealth. The income tax credit is equal to 30% of all expenditures for wireless and broadband equipment used in providing telecommunications services in the rural areas of the Commonwealth. There is a $1 million cap on the total amount of income tax credits that may be allowed in any tax year. Both preferences are effective in 2007. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2007Committee
01/10/2007Prefiled and ordered printed; offered 01/10/07 071305256
01/10/2007Referred to Committee on Finance
01/18/2007Assigned Finance sub: #1 (Orrock)
01/23/2007Impact statement from TAX (HB2803)