Bank franchise tax; deductions from gross capital. (SB1353)
Introduced By
Sen. Frank Wagner (R-Virginia Beach)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Bank franchise tax; deductions from gross capital. Provides a deduction from gross capital in computing the bank franchise tax for direct equity investments in banks made by the United States government pursuant to the Emergency Economic Stabilization Act of 2008. The deduction would be allowed only for such equity investments that are unrelated to the purchase of a bank's troubled assets by the Secretary of the Treasury of the United States. Amends § 58.1-1205, § 58.1-1206, of the Code of Virginia. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/14/2009 | Prefiled and ordered printed; offered 01/14/09 092867340 |
| 01/14/2009 | Referred to Committee on Finance |
| 01/24/2009 | Impact statement from TAX (SB1353) |
| 02/11/2009 | Stricken at request of Patron in Finance (16-Y 0-N) (see vote tally) |