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