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

Introduced By

Del. John O'Bannon (R-Richmond)

Progress

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

Description

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). Amends § 58.1-339.4, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

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  • 02/06/2009 Amendment by Delegate Marshall, R.G. withdrawn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

Video

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.

Comments

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

VaBIO Supports.