Income tax; credit for electric energy facility producing electricity from livestock waste nutrient. (SB678)

Introduced By

Sen. Emmett Hanger (R-Mount Solon)

Progress

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

Description

Income tax credits; electric energy facility producing electricity primarily from agricultural livestock waste nutrients. Establishes individual and corporate income tax credits for energy property under 48 (a) of the U.S. Internal Revenue Code of 1986, as amended, that is (i) placed in service in the Commonwealth on or after January 1, 2010, and (ii) part of an electric energy facility producing electricity primarily from agricultural livestock waste nutrients.

The amount of the credit would be equal to the amount of the energy credit allowed for the taxable year under 48 of the U.S. Internal Revenue Code of 1986, as amended, for placing such energy property in service. Amends § 58.1-439.12:03, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/22/2010Presented and ordered printed 10104298D
01/22/2010Referred to Committee on Finance
02/03/2010Reported from Finance (15-Y 0-N) (see vote tally)
02/04/2010Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/08/2010Read second time and engrossed
02/09/2010Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/17/2010Placed on Calendar
02/17/2010Read first time
02/17/2010Referred to Committee on Appropriations
02/19/2010Impact statement from TAX (SB678)
02/23/2010Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/26/2010Subcommittee recommends no action
03/01/2010Subcommittee recommends continuing to 2011
03/01/2010Continued to 2011 in Appropriations
12/02/2010Left in Appropriations