Renewable energy sources; tax credit for producing energy, exception. (SB981)

Introduced By

Sen. Mary Margaret Whipple (D-Arlington)

Progress

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

Description

Renewable energy sources production tax credit.  Establishes, beginning January 1, 2011, a $1-per-megawatt-hour corporate income tax credit for each megawatt-hour of electricity or megawatt-hour equivalent in thermal energy that an energy producer generated from renewable energy sources harvested or captured in Virginia and sold or self-consumed during the taxable year. The bill would provide a 10-year carryforward period for any credit not usable in the taxable year of sale. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2011Prefiled and ordered printed; offered 01/12/11 11103251D
01/11/2011Referred to Committee on Finance
01/23/2011Impact statement from TAX (SB981)
01/26/2011Reported from Finance with substitute (9-Y 5-N) (see vote tally)
01/26/2011Committee substitute printed 11104617D-S1
01/27/2011Constitutional reading dispensed (38-Y 0-N) (see vote tally)
01/28/2011Passed by for the day
01/31/2011Read second time
01/31/2011Reading of substitute waived
01/31/2011Committee substitute agreed to 11104617D-S1
01/31/2011Engrossed by Senate - committee substitute SB981S1
02/01/2011Passed by for the day
02/02/2011Engrossment reconsidered by Senate (40-Y 0-N) (see vote tally)
02/02/2011Reading of amendment waived
02/02/2011Amendment by Senator Whipple agreed to
02/02/2011Engrossed by Senate - committee substitute with amendment SB981ES1
02/02/2011Printed as engrossed 11104617D-ES1
02/02/2011Constitutional reading dispensed (39-Y 1-N) (see vote tally)
02/02/2011Passed Senate (36-Y 4-N) (see vote tally)
02/07/2011Placed on Calendar
02/07/2011Read first time
02/07/2011Referred to Committee on Finance
02/08/2011Assigned Finance sub: #3
02/10/2011Impact statement from TAX (SB981ES1)
02/22/2011Left in Finance

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 2 minutes.