Investments; qualification for tax credits, clarifies meaning of funding portal, guidelines. (HB1872)

Introduced By

Sen. Jennifer McClellan (D-Richmond) with support from co-patron Del. Tag Greason (R-Potomac Falls)

Progress

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

Description

Investments that qualify for tax credits; qualified website. Specifies that if an investment that is otherwise eligible for a tax credit under the Code of Virginia is made through a website that offers general solicitation or "crowdfunding," such website must be registered with the Department of Taxation.  In order to register, the website shall meet all federal requirements for such sites and shall disseminate certain information to potential investors concerning the entities seeking investments through the website. The bill directs the Department to develop guidelines concerning the registration, and to post on its website a list of registered websites. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/08/2013Committee
01/08/2013Prefiled and ordered printed; offered 01/09/13 13101644D
01/08/2013Referred to Committee on Finance
01/14/2013Assigned Finance sub: #3
01/17/2013Impact statement from TAX (HB1872)
01/18/2013Subcommittee recommends reporting with amendment(s) (5-Y 0-N)
01/30/2013Reported from Finance with substitute (21-Y 0-N) (see vote tally)
01/30/2013Committee substitute printed 13104178D-H1
02/01/2013Read first time
02/04/2013Read second time
02/04/2013Committee substitute agreed to 13104178D-H1
02/04/2013Engrossed by House - committee substitute HB1872H1
02/05/2013Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/05/2013VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/06/2013Constitutional reading dispensed
02/06/2013Referred to Committee on Finance
02/08/2013Constitutional reading dispensed
02/08/2013Referred to Committee on Finance
02/12/2013Reported from Finance (15-Y 0-N) (see vote tally)
02/12/2013Impact statement from TAX (HB1872H1)
02/13/2013Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/14/2013Read third time
02/14/2013Passed Senate (40-Y 0-N) (see vote tally)
02/20/2013Enrolled
02/20/2013Bill text as passed House and Senate (HB1872ER)
02/20/2013Signed by Speaker
02/20/2013Signed by President
02/21/2013Impact statement from TAX (HB1872ER)
03/13/2013G Approved by Governor-Chapter 289 (effective 7/1/13)
03/13/2013G Acts of Assembly Chapter text (CHAP0289)

Video

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 1 minute.