Historic rehabilitation; limits amount of tax credits that may be claimed by each taxpayer. (SB1034)

Introduced By

Sen. Janet Howell (D-Reston)

Progress

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

Description

Historic rehabilitation tax credit. Limits the amount of historic rehabilitation tax credits that may be claimed by each taxpayer to $5 million per year, including any amounts carried over from prior taxable years. The limit is in effect for taxable years beginning on and after January 1, 2017. Amends § 58.1-339.2, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/04/2017Prefiled and ordered printed; offered 01/11/17 17101773D
01/04/2017Referred to Committee on Finance
01/14/2017Impact statement from TAX (SB1034)
02/01/2017Reported from Finance with amendment (16-Y 0-N) (see vote tally)
02/02/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/03/2017Read second time
02/03/2017Reading of amendment waived
02/03/2017Committee amendment agreed to
02/03/2017Engrossed by Senate as amended SB1034E
02/03/2017Printed as engrossed 17101773D-E
02/03/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/03/2017Passed Senate (40-Y 0-N) (see vote tally)
02/08/2017Placed on Calendar
02/08/2017Read first time
02/08/2017Referred to Committee on Finance
02/09/2017Impact statement from TAX (SB1034E)
02/13/2017Reported from Finance with amendment (21-Y 0-N) (see vote tally)
02/14/2017Read second time
02/15/2017Read third time
02/15/2017Committee amendment agreed to
02/15/2017Engrossed by House as amended
02/15/2017Passed House with amendment (92-Y 5-N 1-A)
02/15/2017VOTE: PASSAGE (92-Y 5-N 1-A) (see vote tally)
02/15/2017House amendment rejected by Senate (8-Y 29-N 1-A) (see vote tally)
02/15/2017House insisted on amendment
02/15/2017House requested conference committee
02/15/2017Senate acceded to request (36-Y 1-N) (see vote tally)
02/15/2017Conferees appointed by Senate
02/15/2017Senators: Howell, Hanger, Ruff
02/15/2017Conferees appointed by House
02/15/2017Delegates: Bloxom, Farrell, Sullivan
02/23/2017C Amended by conference committee
02/24/2017Conference report agreed to by Senate (33-Y 7-N) (see vote tally)
02/24/2017Conference report agreed to by House (88-Y 4-N 1-A)
02/24/2017VOTE: ADOPTION (88-Y 4-N 1-A) (see vote tally)
03/07/2017Enrolled
03/07/2017Bill text as passed Senate and House (SB1034ER)
03/07/2017Signed by Speaker
03/10/2017Signed by President
03/13/2017Enrolled Bill Communicated to Governor on 3/13/17
03/13/2017G Governor's Action Deadline Midnight, March 27, 2017
03/24/2017G Approved by Governor-Chapter 721 (effective 7/1/17)
03/24/2017G Acts of Assembly Chapter text (CHAP0721)
05/03/2017Impact statement from TAX (SB1034ER)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 3 clips in all, totaling 2 minutes.

Transcript

This is a transcript of the video clips in which this bill is discussed.

The conference report distributed, available online and before the body.

Del. Bill Howell (R-Fredericksburg): the gentleman from fairfax, Mr. Keene.

[Unknown]: thank you, Mr. Speaker. This was introduced by senator howell as a companion to a bill that was just passed yesterday by delegate bloxom. If you look at the language of senate bill 1034 which now the conference report adds a two year sunset from the one year. And house bill 246, 0, my mother would say -- so because of that it is a companion bill and I ask that the conference report be accepted.

Del. Bill Howell (R-Fredericksburg): shall the conference report be adopted? The clerk will close the roll. Ayes 88, nos 4.

[Unknown]: Members please sake your seats.

Duplicate Bills

The following bills are identical to this one: HB1635.