Coalfield region energy production; establishes a tax credit for taxable years 2017 through 2021. (HB1917)

Introduced By

Del. Will Morefield (R-North Tazewell)

Progress

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

Description

Coalfield region energy production tax credit. Establishes a tax credit for taxable years 2017 through 2021 for a capital investment in an energy production facility in the coalfield region. The credit would equal 25 percent of (i) any expenditure for the construction or improvement of an energy production facility or (ii) the cost of machinery, tools, and equipment used at an energy production facility and directly related to energy production. The Department of Taxation would be authorized to issue $7.3 million in tax credits each fiscal year. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2017Committee
01/10/2017Prefiled and ordered printed; offered 01/11/17 17100578D
01/10/2017Referred to Committee on Finance
01/19/2017Assigned Finance sub: Subcommittee #3
01/19/2017Impact statement from TAX (HB1917)
01/27/2017Subcommittee recommends laying on the table
02/07/2017Left in Finance