Income tax, corporate; subtraction for certain qualifying facility or business operations. (SB1447)
Introduced By
Sen. Ryan McDougle (R-Mechanicsville) with support from co-patron Sen. Bill Stanley (R-Moneta)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Corporate income tax; rate of taxation. Provides that if a previously-inverted corporation makes a capital investment of at least $5 million to open a facility or business operation in the Commonwealth, then the first $5,000,000 of the corporation's profits each year shall be exempt from the corporate income tax for the first five years of operation of such business or facility. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/23/2015 | Presented and ordered printed |
01/23/2015 | Presented and ordered printed 15103291D |
01/23/2015 | Referred to Committee on Finance |
01/30/2015 | Impact statement from TAX (SB1447) |
02/04/2015 | Reported from Finance with substitute (10-Y 3-N) (see vote tally) |
02/04/2015 | Committee substitute printed 15104637D-S1 |
02/05/2015 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/06/2015 | Engrossed by Senate - committee substitute SB1447D-S1 |
02/06/2015 | Read second time |
02/06/2015 | Reading of substitute waived |
02/06/2015 | Committee substitute agreed to 15104637D-S1 |
02/06/2015 | Engrossed by Senate - committee substitute SB1447S1 |
02/09/2015 | Read third time and passed Senate (25-Y 13-N) (see vote tally) |
02/10/2015 | Impact statement from TAX (SB1447S1) |
02/11/2015 | Placed on Calendar |
02/11/2015 | Read first time |
02/11/2015 | Referred to Committee on Finance |
02/12/2015 | Assigned Finance sub: Subcommittee #3 |
02/13/2015 | Subcommittee recommends laying on the table |
02/24/2015 | Left in Finance |