Small Business Investment Grant Fund; created. (SB344)

Introduced By

Sen. Ryan McDougle (R-Mechanicsville) with support from co-patrons Sen. Bryce Reeves (R-Spotsylvania), Sen. Frank Ruff (R-Clarksville), and Sen. Bill Stanley (R-Moneta)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Passed


01/10/2012Prefiled and ordered printed; offered 01/11/12 12103734D
01/10/2012Referred to Committee on Finance
02/02/2012Impact statement from TAX (SB344)
02/08/2012Reported from Finance with substitute (14-Y 1-N) (see vote tally)
02/08/2012Committee substitute printed 12105256D-S1
02/09/2012Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/10/2012Read second time
02/10/2012Reading of substitute waived
02/10/2012Committee substitute agreed to 12105256D-S1
02/10/2012Engrossed by Senate - committee substitute SB344S1
02/13/2012Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/16/2012Placed on Calendar
02/16/2012Read first time
02/16/2012Referred to Committee on General Laws
02/20/2012Assigned GL sub: #4 Professions/Occupations and Administrative Process
02/21/2012Impact statement from TAX (SB344S1)
02/21/2012Subcommittee recommends reporting with amendment(s) (7-Y 0-N)
02/23/2012Reported from General Laws with substitute (22-Y 0-N) (see vote tally)
02/23/2012Committee substitute printed 12105582D-H1
02/23/2012Referred to Committee on Appropriations
02/24/2012Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/27/2012Subcommittee recommends reporting (8-Y 0-N)
02/27/2012Reported from Appropriations (22-Y 0-N) (see vote tally)
02/28/2012Read second time
02/29/2012Read third time
02/29/2012Committee substitute agreed to 12105582D-H1
02/29/2012Engrossed by House - committee substitute SB344H1
02/29/2012Passed House with substitute BLOCK VOTE (97-Y 0-N)
02/29/2012VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/29/2012House substitute rejected by Senate (1-Y 39-N) (see vote tally)
02/29/2012House insisted on substitute
02/29/2012House requested conference committee
02/29/2012Senate acceded to request (38-Y 0-N) (see vote tally)
02/29/2012Conferees appointed by Senate
02/29/2012Senators: McDougle, Reeves, Deeds
02/29/2012Conferees appointed by House
02/29/2012Delegates: Merricks, Ware, R.L., Lewis
03/05/2012Conference report agreed to by Senate (39-Y 0-N) (see vote tally)
03/05/2012Conference substitute printed 12105811D-S2
03/05/2012Conference report agreed to by House (96-Y 0-N)
03/05/2012VOTE: ADOPTION (96-Y 0-N) (see vote tally)
03/08/2012Bill text as passed Senate and House (SB344ER)
03/08/2012Signed by Speaker
03/09/2012Signed by President
03/22/2012Impact statement from TAX (SB344ER)
04/06/2012G Approved by Governor-Chapter 669 (effective 7/1/12)
04/06/2012G Acts of Assembly Chapter text (CHAP0669)


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 1 minute.

Duplicate Bills

The following bills are identical to this one: HB585.