Income tax, state; small business investment tax credit. (HB2)

Introduced By

Del. Manoli Loupassi (R-Richmond) with support from 9 copatrons, whose average partisan position is:

Those copatrons are Del. Rich Anderson (R-Woodbridge), Del. Clay Athey (R-Front Royal), Del. Anne Crockett-Stark (R-Wytheville), Del. Scott Garrett (R-Lynchburg), Del. Todd Gilbert (R-Woodstock), Del. Scott Lingamfelter (R-Woodbridge), Del. Jackson Miller (R-Manassas), Del. Chris Peace (R-Mechanicsville), Sen. Bill Carrico (R-Grayson)

Progress

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

Description

Income tax; small business investment tax credit.  Provides a tax credit equal to 10% of the eligible investments made by small business taxpayers in personal property and real estate improvements used in the business. The investments must be made beginning July 1, 2010, but before July 1, 2011, and the minimum amount must be $10,000 in order to qualify for the credit. For purposes of the credit, a business qualifies as small if it has 500 or fewer employees. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
11/16/2009Committee
11/16/2009Prefiled and ordered printed; offered 01/13/10 10100394D
11/16/2009Referred to Committee on Finance
01/19/2010Assigned Finance sub: #3
01/24/2010Impact statement from TAX (HB2)
01/25/2010Assigned Finance sub: #3
02/09/2010Subcommittee recommends continuing to 2011
02/10/2010Continued to 2011 in Finance