Bank franchise; tax credit for student loan refinancing. (HB2191)

Introduced By

Del. Nick Rush (R-Christiansburg) with support from co-patron Del. Cia Price (D-Newport News)

Progress

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

Description

Bank franchise tax credit for student loan refinancing. Provides a credit against the bank franchise tax starting in taxable year 2019 in the amount of 20 percent of a bank's student loan refinancing expenses. The bill defines eligible expenses to include the amount of principal forgiven by a bank plus the amount of interest reduced by refinancing. The credit is available only for expenses related to the refinancing of privately held loans but not loans held by the federal government. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2019Committee
01/08/2019Prefiled and ordered printed; offered 01/09/19 19102808D
01/08/2019Referred to Committee on Finance
01/18/2019Assigned Finance sub: Subcommittee #1
01/22/2019Impact statement from TAX (HB2191)
02/05/2019Left in Finance

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