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


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


This is a transcript of the video clips in which this bill is discussed.

Duplicate Bills

The following bills are identical to this one: HB585.