Small Business Investment Grant Fund; created. (HB585)
Introduced By
Del. Don Merricks (R-Danville) with support from 17 copatrons, whose average partisan position is:
Those copatrons are Del. Kathy Byron (R-Lynchburg), Del. Anne Crockett-Stark (R-Wytheville), Del. Scott Garrett (R-Lynchburg), Del. Gordon Helsel (R-Poquoson), Del. Keith Hodges (R-Urbanna), Del. Mark Keam (D-Vienna), Del. Barry Knight (R-Virginia Beach), Del. Alfonso Lopez (D-Arlington), Del. Randy Minchew (R-Leesburg), Del. Rick Morris (R-Carrollton), Del. John O'Bannon (R-Richmond), Del. Charles Poindexter (R-Glade Hill), Del. David Ramadan (R-South Riding), Del. Nick Rush (R-Christiansburg), Del. Tom Rust (R-Herndon), Del. Ron Villanueva (R-Virginia Beach), Sen. Chris Head (R-Roanoke)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; small business investment tax credits. Creates a tax credit equal to 10 percent of a qualified investment in a small business for an eligible investor. The investment must be made on or after January 1, 2012, but before January 1, 2015, and the equity must be held for two years. The Department of Taxation would certify small businesses that may receive investments eligible for the tax credit. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2012 | Committee |
01/10/2012 | Prefiled and ordered printed; offered 01/11/12 12103733D |
01/10/2012 | Referred to Committee on Finance |
01/23/2012 | Impact statement from TAX (HB585) |
02/02/2012 | Assigned Finance sub: #3 |
02/03/2012 | Subcommittee recommends reporting (5-Y 0-N) |
02/08/2012 | Reported from Finance with substitute (22-Y 0-N) (see vote tally) |
02/08/2012 | Committee substitute printed 12105277D-H1 |
02/10/2012 | Read first time |
02/13/2012 | Speaker ruled Finance Committee substitute not germane |
02/13/2012 | Read second time |
02/13/2012 | Speaker ruled Finance Committee substitute not germane 12105277D-H1 |
02/13/2012 | Engrossed by House |
02/14/2012 | Read third time and passed House (100-Y 0-N) |
02/14/2012 | VOTE: PASSAGE (100-Y 0-N) (see vote tally) |
02/15/2012 | Constitutional reading dispensed |
02/15/2012 | Referred to Committee on Finance |
02/20/2012 | Impact statement from TAX (HB585H1) |
02/22/2012 | Reported from Finance with substitute (11-Y 0-N) (see vote tally) |
02/22/2012 | Committee substitute printed 12105564D-S1 |
02/23/2012 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/24/2012 | Read third time |
02/24/2012 | Reading of substitute waived |
02/24/2012 | Committee substitute agreed to 12105564D-S1 |
02/24/2012 | Engrossed by Senate - committee substitute HB585S1 |
02/24/2012 | Passed Senate with substitute (37-Y 0-N) (see vote tally) |
02/24/2012 | Reconsideration of Senate passage agreed to by Senate (38-Y 0-N) (see vote tally) |
02/24/2012 | Passed Senate with substitute (38-Y 0-N) (see vote tally) |
02/27/2012 | Placed on Calendar |
02/28/2012 | Passed by for the day |
02/29/2012 | Senate substitute rejected by House 12105564D-S1 (0-Y 97-N) |
02/29/2012 | VOTE: REJECTED (0-Y 97-N) (see vote tally) |
02/29/2012 | Senate insisted on substitute (40-Y 0-N) (see vote tally) |
02/29/2012 | Senate requested conference committee |
02/29/2012 | House acceded to request |
02/29/2012 | Conferees appointed by Senate |
02/29/2012 | Senators: Hanger, Ruff, Lucas |
02/29/2012 | Conferees appointed by House |
02/29/2012 | Delegates: Merricks, Ware, R.L., Lewis |
03/02/2012 | Conference report agreed to by Senate (37-Y 0-N) (see vote tally) |
03/05/2012 | Conference substitute printed 12105803D-H2 |
03/05/2012 | Conference report agreed to by House (96-Y 0-N) |
03/05/2012 | VOTE: ADOPTION (96-Y 0-N) (see vote tally) |
03/10/2012 | Enrolled |
03/10/2012 | Bill text as passed House and Senate (HB585ER) |
03/10/2012 | Signed by Speaker |
03/10/2012 | Signed by President |
03/22/2012 | Impact statement from TAX (HB585ER) |
04/06/2012 | G Approved by Governor-Chapter 657 (effective 7/1/12) |
04/06/2012 | G Acts of Assembly Chapter text (CHAP0657) |
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 3 minutes.