Unclaimed tax credits; tax credit obsolete if not claimed by any taxpayer in 5 years, etc., report. (SB1296)

Introduced By

Sen. Walter Stosch (R-Glen Allen)

Progress

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

Description

Unclaimed tax credits; report. Declares a tax credit obsolete if it has not been claimed by any taxpayer during the preceding five calendar years, and prohibits the Department of Taxation from authorizing any taxpayer to claim a tax credit once it has been declared obsolete. The Department shall report annually to the House Committee on Appropriations, the House Committee on Finance, and the Senate Committee on Finance on credits that have been declared obsolete and shall post such report on its website. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/15/2013Presented and ordered printed 13101145D
01/15/2013Referred to Committee on Finance
01/21/2013Impact statement from TAX (SB1296)
01/22/2013Reported from Finance with amendment (14-Y 0-N) (see vote tally)
01/23/2013Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/24/2013Read second time
01/24/2013Reading of amendment waived
01/24/2013Committee amendment agreed to
01/24/2013Engrossed by Senate as amended SB1296E
01/24/2013Printed as engrossed 13101145D-E
01/25/2013Read third time and passed Senate (38-Y 0-N) (see vote tally)
01/25/2013Reconsideration of passage agreed to by Senate (40-Y 0-N) (see vote tally)
01/25/2013Passed Senate (40-Y 0-N) (see vote tally)
02/01/2013Impact statement from TAX (SB1296E)
02/02/2013Placed on Calendar
02/02/2013Read first time
02/02/2013Referred to Committee on Finance
02/04/2013Assigned Finance sub: #3
02/08/2013Subcommittee recommends reporting (5-Y 0-N)
02/11/2013Reported from Finance (21-Y 0-N) (see vote tally)
02/12/2013Read second time
02/13/2013Read third time
02/13/2013Passed House (92-Y 6-N)
02/13/2013VOTE: PASSAGE (92-Y 6-N) (see vote tally)
02/19/2013Enrolled
02/19/2013Bill text as passed Senate and House (SB1296ER)
02/19/2013Signed by Speaker
02/20/2013Signed by President
02/21/2013Impact statement from TAX (SB1296ER)
03/20/2013G Approved by Governor-Chapter 657 (effective 7/1/13)
03/20/2013G Acts of Assembly Chapter text (CHAP0657)
03/22/2013Impact statement from TAX (SB1296ER)

Video

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 9 minutes.