Income tax, state; exemption for launch services and payload to space flight participants. (HB238)

Introduced By

Sen. John Cosgrove (R-Chesapeake) with support from co-patron Sen. Lynwood Lewis (D-Accomac)

Progress

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

Description

Income tax exemption for launch services and payload. Grants an income tax exemption for income resulting from the sale of launch services to space flight participants or launch services intended to provide individuals the training or experience of a launch, without performing an actual launch. The bill also grants an income tax exemption for any gain recognized as a result of resupply services contracts for delivering payload entered into with the Commercial Orbital Transportation Services division of the National Aeronautics and Space Administration or other space flight entity. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/28/2007Committee
12/28/2007Prefiled and ordered printed; offered 01/09/08 075750162
12/28/2007Referred to Committee on Finance
01/12/2008Impact statement from TAX (HB238)
01/15/2008Assigned Finance sub: 2
02/04/2008Reported from Finance with substitute (22-Y 0-N) (see vote tally)
02/04/2008Committee substitute printed 081922472-H1
02/05/2008Read first time
02/06/2008Read second time
02/06/2008Committee substitute agreed to 081922472-H1
02/06/2008Engrossed by House - committee substitute HB238H1
02/07/2008Read third time and passed House BLOCK VOTE (99-Y 0-N)
02/07/2008VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/07/2008Communicated to Senate
02/08/2008Constitutional reading dispensed
02/08/2008Referred to Committee on Finance
02/15/2008Impact statement from TAX (HB238H1)
02/19/2008Reported from Finance (15-Y 0-N)
02/20/2008Constitutional reading dispensed (40-Y 0-N)
02/21/2008Read third time
02/21/2008Passed Senate (39-Y 0-N)
02/21/2008Reconsideration of Senate passage agreed to by Senate (39-Y 0-N)
02/21/2008Passed Senate (40-Y 0-N) (see vote tally)
02/25/2008Enrolled
02/25/2008Bill text as passed House and Senate (HB238ER)
02/25/2008Signed by Speaker
02/26/2008Signed by President
02/27/2008Impact statement from TAX (HB238ER)
03/03/2008G Approved by Governor-Chapter 210 (effective 7/1/08)
03/03/2008G Approved by Governor-Chapter 211 (effective 7/1/08)
03/06/2008G Acts of Assembly Chapter text (CHAP0211)

Duplicate Bills

The following bills are identical to this one: HB351, HB874, SB286 and SB401.