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