Income tax, state; individual credit for certain new motor vehicle purchases. (SB1549)

Introduced By

Sen. Walter Stosch (R-Glen Allen)

Progress

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

Description

Individual income tax credit; new motor vehicle purchases. Provides an individual income tax credit equal to 10 percent of the purchase price of passenger cars, motorcycles, and pickup or panel trucks that are model year 2008 or later and that have not been previously sold by a dealer. The maximum tax credit that would be allowed is $2,500, and no more than $500 of the tax credit could be claimed by the individual in any taxable year. Any unused tax credit could be carried forward for seven years. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
02/05/2009Unanimous consent to introduce
02/05/2009Presented and ordered printed 092917332
02/05/2009Referred to Committee on Finance
02/05/2009Failed to report (defeated) in Finance (5-Y 10-N) (see vote tally)