Federal Government Contractor Grant Fund and Program; created & established for certain businesses. (SB620)

Introduced By

Sen. Chap Petersen (D-Fairfax) with support from co-patrons Del. Luke Torian (D-Woodbridge), and Sen. Phil Puckett (D-Tazewell)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Tax credit for contracting with small or minority-owned, veteran-owned, or women-owned businesses.  Establishes a corporate income tax credit beginning January 1, 2013, for federal contractors with at least 250 full-time employees that subcontract with small or minority-owned, veteran-owned, or women-owned businesses to perform federal government contract work. The tax credit would equal five percent of the amount paid by the federal contractor under the subcontract to the small or minority-owned, veteran-owned, or women-owned business. The small or minority-owned, veteran-owned, or women-owned business would be required to perform all subcontract work in a Historically Underutilized Business Zone or a state enterprise zone.

Tax credits would be capped at $10 million each fiscal year. The tax credit would sunset on December 31, 2017. Read the Bill »


Bill Has Failed


01/20/2012Presented and ordered printed 12104119D
01/20/2012Referred to Committee on Finance
01/28/2012Impact statement from TAX (SB620)
02/08/2012Reported from Finance with substitute (14-Y 0-N 1-A) (see vote tally)
02/08/2012Committee substitute printed 12105249D-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 12105249D-S1
02/10/2012Engrossed by Senate - committee substitute SB620S1
02/13/2012Read third time and passed Senate (38-Y 1-N 1-A) (see vote tally)
02/17/2012Placed on Calendar
02/17/2012Read first time
02/17/2012Referred to Committee on General Laws
02/20/2012Assigned GL sub: #2 FOIA/Procurement
02/22/2012Impact statement from TAX (SB620S1)
02/28/2012Subcommittee recommends laying on the table
03/10/2012Left in General Laws


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.

Duplicate Bills

The following bills are identical to this one: HB228.