Income tax, state; research and development expenses tax credit. (HB1447)

Introduced By

Del. Ben Cline (R-Amherst)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Income tax; research and development expenses tax credit.  Allows income tax credits for individuals and businesses for qualified research and development expenses for taxable years beginning on or after January 1, 2012, but before January 1, 2017. The tax credit amounts are (i) 15% of the Virginia qualified research and development expenses, or (ii) 20% of the Virginia qualified research and development expenses, if the research was conducted in conjunction with a Virginia public college and university. The Tax Department shall develop policies and procedures for the application process for the tax credits. There is a $10 million cap on the total amount of credits allowed in any taxable year. Read the Bill »


Bill Has Passed


11/22/2010Prefiled and ordered printed; offered 01/12/11 11100871D
11/22/2010Referred to Committee on Finance
01/17/2011Assigned Finance sub: #3
01/27/2011Impact statement from TAX (HB1447)
01/28/2011Subcommittee recommends reporting with amendment(s) (5-Y 0-N)
02/02/2011Reported from Finance with substitute (14-Y 7-N) (see vote tally)
02/02/2011Committee substitute printed 11104600D-H1
02/02/2011Incorporates HB2325
02/04/2011Read first time
02/07/2011Read second time
02/07/2011Committee substitute agreed to 11104600D-H1
02/07/2011Amendment by Delegate Sickles rejected (34-Y 62-N)
02/07/2011VOTE: REJECTED (34-Y 62-N) (see vote tally)
02/07/2011Engrossed by House - committee substitute HB1447H1
02/08/2011Read third time and passed House (76-Y 23-N)
02/08/2011VOTE: PASSAGE (76-Y 23-N) (see vote tally)
02/09/2011Constitutional reading dispensed
02/09/2011Referred to Committee on Finance
02/11/2011Impact statement from TAX (HB1447H1)
02/15/2011Reported from Finance with substitute (15-Y 0-N) (see vote tally)
02/15/2011Committee substitute printed 11105320D-S1
02/16/2011Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2011Read third time
02/16/2011Reading of substitute waived
02/16/2011Committee substitute agreed to 11105320D-S1
02/16/2011Engrossed by Senate - committee substitute HB1447S1
02/16/2011Passed Senate with substitute (38-Y 0-N) (see vote tally)
02/16/2011Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/16/2011Passed Senate with substitute (40-Y 0-N ) (see vote tally)
02/16/2011Placed on Calendar
02/16/2011Senate substitute rejected by House 11105320D-S1 (29-Y 55-N)
02/16/2011VOTE: REJECTED (29-Y 55-N) (see vote tally)
02/16/2011Senate insisted on substitute (36-Y 3-N) (see vote tally)
02/16/2011Reconsidered insisted on substitute agreed to by Senate (38-Y 0-N) (see vote tally)
02/16/2011Senate insisted on substitute (33-Y 5-N) (see vote tally)
02/16/2011Senate requested conference committee
02/16/2011House acceded to request
02/16/2011Conferees appointed by House
02/16/2011Delegates: Cline, Landes, Lewis
02/16/2011Conferees appointed by Senate
02/16/2011Senators: Herring, Saslaw, Watkins
02/21/2011Conference report agreed to by Senate (38-Y 0-N) (see vote tally)
02/21/2011Conference substitute printed 11105523D-H2
02/21/2011Conference report agreed to by House (87-Y 12-N)
02/21/2011VOTE: ADOPTION (87-Y 12-N) (see vote tally)
02/25/2011Bill text as passed House and Senate (HB1447ER)
02/25/2011Signed by Speaker
02/25/2011Signed by President
03/28/2011G Approved by Governor-Chapter 742 (effective 7/1/11)
03/28/2011G Acts of Assembly Chapter text (CHAP0742)


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 20 minutes.

Duplicate Bills

The following bills are identical to this one: SB1326.