Qualified equity and subordinated debt investments; raises cap on total amount of credits. (SB200)

Introduced By

Sen. Janet Howell (D-Reston) with support from co-patrons Del. Eileen Filler-Corn (D-Fairfax Station), and Sen. Ryan McDougle (R-Mechanicsville)

Progress

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

Description

Qualified equity and subordinated debt investments tax credit. Raises the cap on the total amount of credits that may be issued under the qualified equity and subordinated debt investment tax credit from $5 million to $9 million for calendar years beginning on and after January 1, 2016. The bill also raises the cap on the maximum amount of credits available to each taxpayer from $50,000 to $100,000 for taxable years beginning on and after January 1, 2016. This bill incorporates SB 749. Amends § 58.1-339.4, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/04/2016Prefiled and ordered printed; offered 01/13/16 16101911D
01/04/2016Referred to Committee on Finance
02/08/2016Impact statement from TAX (SB200)
02/09/2016Committee substitute printed to Web only 16105367D-S1
02/09/2016Continued to 2017 in Finance (15-Y 0-N) (see vote tally)
02/09/2016Incorporates SB749
12/02/2016Left in Finance