Major business facility job tax credit; business that creates at least 50 qualified full-time jobs. (HB624)

Introduced By

Del. Terry Kilgore (R-Gate City)

Progress

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

Description

Major business facility job tax credit.  Amends the Major Business Facility Job Tax Credit. Current law provides a $1,000 tax credit for major business facilities that create at least 100 qualified full-time jobs. This legislation increases the tax credit to $2000, and reduces the number of qualified full-time jobs required to be created to 50. In enterprise zones or economically distressed areas, the base or threshold is lowered from 50 newly created jobs to 25. The changes also allow the credit to be taken over a two-year period for taxable years beginning January 1, 2009, through December 31, 2012, rather than December 31, 2010. Amends § 58.1-439, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/12/2010Committee
01/12/2010Prefiled and ordered printed; offered 01/13/10 10102349D
01/12/2010Referred to Committee on Finance
01/19/2010Assigned Finance sub: #3
01/25/2010Assigned Finance sub: #3
02/01/2010Impact statement from TAX (HB624)
02/09/2010Subcommittee recommends reporting with amendment(s) (4-Y 0-N)
02/10/2010Reported from Finance with substitute (20-Y 1-N) (see vote tally)
02/10/2010Committee substitute printed 10105223D-H1
02/10/2010Referred to Committee on Appropriations
02/11/2010Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/12/2010Impact statement from TAX (HB624H1)
02/16/2010Reported from Appropriations (22-Y 0-N) (see vote tally)
02/18/2010Read first time
02/19/2010Read second time
02/19/2010Constitutional reading dispensed (95-Y 0-N)
02/19/2010VOTE: --- AGREE TO (95-Y 0-N) (see vote tally)
02/19/2010Committee substitute agreed to 10105223D-H1
02/19/2010Engrossed by House - committee substitute HB624H1
02/19/2010Passed House (95-Y 0-N)
02/19/2010VOTE: --- PASSAGE (95-Y 0-N) (see vote tally)
02/22/2010Constitutional reading dispensed
02/22/2010Referred to Committee on Finance
02/24/2010Impact statement from TAX (HB624H1)
03/02/2010Reported from Finance with amendments (14-Y 0-N) (see vote tally)
03/03/2010Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/03/2010Read third time
03/03/2010Reading of amendments waived
03/03/2010Committee amendments agreed to
03/03/2010Engrossed by Senate as amended
03/03/2010Passed Senate with amendments (39-Y 0-N) (see vote tally)
03/03/2010Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
03/03/2010Passed Senate with amendments (40-Y 0-N) (see vote tally)
03/03/2010Senate amendments rejected by House (0-Y 96-N)
03/03/2010VOTE: --- REJECTED (0-Y 96-N) (see vote tally)
03/03/2010Senate insisted on amendments (39-Y 0-N) (see vote tally)
03/03/2010Senate requested conference committee
03/03/2010House acceded to request
03/03/2010Conferees appointed by House
03/03/2010Delegates: Kilgore, Landes, Phillips
03/03/2010Conferees appointed by Senate
03/03/2010Senators: Watkins, Marsh, Miller, Y.B.
03/08/2010Conference report agreed to by Senate (39-Y 0-N) (see vote tally)
03/08/2010Reconsideration of conference report agreed to by Senate (40-Y 0-N) (see vote tally)
03/08/2010Conference report agreed to by Senate (40-Y 0-N) (see vote tally)
03/08/2010Conference report agreed to by House (96-Y 0-N)
03/08/2010VOTE: --- ADOPTION (96-Y 0-N) (see vote tally)
03/13/2010Enrolled
03/13/2010Bill text as passed House and Senate (HB624ER)
03/13/2010Signed by Speaker
03/15/2010Signed by President
03/18/2010Impact statement from TAX (HB624ER)
04/10/2010G Approved by Governor-Chapter 363 (effective 7/1/10)
04/10/2010G Acts of Assembly Chapter text (CHAP0363)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 3 clips in all, totaling 2 minutes.

Duplicate Bills

The following bills are identical to this one: SB472.