HB2109: Tax credits; expiration date.

HOUSE BILL NO. 2109

Offered January 14, 2015
Prefiled January 14, 2015
A BILL to amend the Code of Virginia by adding in Article 1 of Chapter 3 of Title 58.1 a section numbered 58.1-319.1, relating to expiration of tax credits.
Patron-- Futrell

Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Article 1 of Chapter 3 of Title 58.1 a section numbered 58.1-319.1 as follows:

§ 58.1-319.1. Expiration of tax credits.

A. Any tax credit that does not otherwise indicate an expiration date shall only be valid for taxable years beginning before January 1, 2025, absent an affirmative act of the General Assembly to extend the validity of such credit.

B. The provisions of this section shall not apply to the credits set forth in § 58.1-322 or 58.1-339.8.