Income tax, corporate; renewable energy products tax credit. (SB657)

Introduced By

Sen. Frank Ruff (R-Clarksville)

Progress

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

Description

Income tax; corporate; renewable energy products tax credit. Provides an income tax credit for taxable years beginning on and after January 1, 2011, but before January 1, 2016, for the production and export of renewable energy products. The credit ranges from $0.20 to $0.40 per ton of renewable energy products, depending on the current year export volume. The total amount of credits allowed annually is $6 million. Amends § 58.1-439.12:03, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/20/2010Presented and ordered printed 10104137D
01/20/2010Referred to Committee on Finance
01/24/2010Impact statement from TAX (SB657)
02/03/2010Committee substitute printed 10105025D-S1
02/03/2010Reported from Finance with substitute (15-Y 0-N) (see vote tally)
02/04/2010Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/08/2010Read second time
02/08/2010Passed by for the day
02/09/2010Read second time
02/09/2010Reading of substitute waived
02/09/2010Committee substitute agreed to 10105025D-S1
02/09/2010Reading of amendment waived
02/09/2010Amendment by Senator Ruff agreed to
02/09/2010Engrossed by Senate - committee substitute with amendment SB657ES1
02/09/2010Printed as engrossed 10105025D-ES1
02/10/2010Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/16/2010Impact statement from TAX (SB657ES1)
02/17/2010Placed on Calendar
02/17/2010Read first time
02/17/2010Referred to Committee on Appropriations
02/23/2010Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/26/2010Subcommittee recommends continuing to 2011
03/01/2010Continued to 2011 in Appropriations