Biosciences and other technology industries; qualified equity and subordinated debt investments. (HB2455)

Introduced By

Del. John O'Bannon (R-Richmond)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Development of the biosciences and other technology industries in the Commonwealth; qualified equity and subordinated debt investments tax credit. Redefines "qualified business" for purposes of investments eligible for the tax credit. The bill also allocates half of the available credits for investments in qualified businesses that were created to commercialize technology-related research developed at or in partnership with an institution of higher education. This bill is a recommendation of the Joint Subcommittee Studying Biosciences and Biotechnology in the Commonwealth (HJ 248). Read the Bill »


Bill Has Failed


01/14/2009Prefiled and ordered printed; offered 01/14/09 095957736
01/14/2009Referred to Committee on Science and Technology
01/25/2009Impact statement from TAX (HB2455)
01/28/2009Assigned S & T sub: #1
02/02/2009Subcommittee recommends reporting
02/02/2009Reported from Science and Technology with amendments (20-Y 1-N) (see vote tally)
02/04/2009Read first time
02/05/2009Read second time
02/05/2009Committee amendments #1 and #2 agreed to
02/05/2009Committee amendment #3 rejected
02/05/2009Passed by for the day
02/06/2009Read second time
02/06/2009Amendment by Delegate Vanderhye rejected (39-Y 53-N)
02/06/2009VOTE: --- REJECTED (39-Y 53-N) (see vote tally)
02/06/2009Amendment by Delegate O'Bannon agreed to
02/06/2009Amendment by Delegate Marshall, R.G. withdrawn
02/06/2009Engrossed by House as amended HB2455E
02/06/2009Printed as engrossed 095957736-E
02/08/2009Passed by for the day
02/09/2009Read third time and passed House (99-Y 0-N)
02/09/2009VOTE: --- PASSAGE (99-Y 0-N) (see vote tally)
02/10/2009Impact statement from TAX (HB2455E)
02/10/2009Constitutional reading dispensed
02/10/2009Referred to Committee on Finance
02/11/2009Constitutional reading dispensed
02/11/2009Referred to Committee on Finance
02/17/2009Committee substitute printed 096038212-S1
02/17/2009Reported from Finance with substitute (13-Y 2-N) (see vote tally)
02/18/2009Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/19/2009Read third time
02/19/2009Passed by for the day
02/20/2009Passed by for the day
02/23/2009Passed by for the day
02/24/2009Read third time
02/24/2009Passed by for the day
02/25/2009Read third time
02/25/2009Reading of substitute waived
02/25/2009Committee substitute rejected 096038212-S1
02/25/2009Passed by temporarily
02/25/2009Passed by for the day
02/26/2009Read third time
02/26/2009Passed by temporarily
02/26/2009Amendment by Senator Herring withdrawn
02/26/2009Passed by for the day
02/28/2009No further action taken
02/28/2009Failed to pass in Senate


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 6 minutes.


Virginia Biotechnology Association, tracking this bill in Photosynthesis, notes:

VaBIO Supports.