Income tax, state; subtraction for long-term capital gains. (HB2044)

Introduced By

Del. Eileen Filler-Corn (D-Fairfax Station) with support from co-patron Del. Kathleen Murphy (D-McLean)

Progress

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

Description

Income tax subtraction for long-term capital gains. Extends from June 30, 2015, to June 30, 2020, the date by which investments in certain technology businesses must be made in order to claim an income tax subtraction for any long-term capital gain or investment services partnership interest income from such investments. Currently, a taxpayer investing in a technology business between April 1, 2010, and June 30, 2015, may claim an income tax subtraction for any long-term capital gain or investment services partnership interest income attributable to such investment if the business has its principal office or facility in the Commonwealth and had less than $3 million in annual revenues in the fiscal year prior to the investment. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/14/2015Committee
01/14/2015Prefiled and ordered printed; offered 01/14/15 15102133D
01/14/2015Referred to Committee on Finance
01/18/2015Impact statement from TAX (HB2044)
01/20/2015Assigned Finance sub: Subcommittee #2
01/21/2015Subcommittee recommends laying on the table
02/10/2015Left in Finance