Worker retraining tax credit; sunset date, worker training investment tax credit. (HB2539)

Introduced By

Del. Kathy Byron (R-Lynchburg) with support from co-patron Del. Roxann Robinson (R-Chesterfield)

Progress

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

Description

Sunset date for worker retraining tax credit; worker training investment tax credit. Advances the sunset date of the worker retraining tax credit from January 1, 2022, to January 1, 2019, and creates the worker training investment tax credit to replace it beginning with taxable year 2019. The worker training investment tax credit is a modification of the worker retraining tax credit. Credit is allowed to businesses who provide (i) eligible worker training, defined in the bill, or (ii) manufacturing instruction to students. The provisions relating to manufacturing instruction are identical to those in the expiring worker retraining tax credit. In order to receive credit for eligible worker training, the business must provide training that (a) grants a workforce credential or (b) is part of an apprenticeship agreement approved by the Commissioner of Labor and Industry. In addition, the recipient of the training must be a qualified employee or non-highly compensated worker, as defined in the bill. The credit equals 35 percent of the expenses incurred by the business in providing the eligible worker training. For the training of a qualified employee, the maximum credit per employee is $500 and for the training of a non-highly compensated worker, the maximum credit per worker is $1,000. The manufacturing provisions of the tax credit may be claimed for taxable years beginning before January 1, 2022, and the eligible worker training provisions of the tax credit may be claimed for taxable years beginning before July 1, 2022. Amends § 58.1-439.6, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/09/2019Committee
01/09/2019Prefiled and ordered printed; offered 01/09/19 19102343D
01/09/2019Referred to Committee on Finance
01/20/2019Impact statement from TAX (HB2539)
01/21/2019Reported from Finance (20-Y 2-N) (see vote tally)
01/23/2019Read first time
01/24/2019Read second time and engrossed
01/25/2019Read third time and passed House (88-Y 9-N)
01/25/2019VOTE: PASSAGE (88-Y 9-N) (see vote tally)
01/28/2019Constitutional reading dispensed
01/28/2019Referred to Committee on Finance
02/12/2019Reported from Finance with amendment (14-Y 0-N) (see vote tally)
02/13/2019Passed Senate with amendment
02/13/2019Passed Senate (39-Y 0-N) (see vote tally)
02/13/2019Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/13/2019Read third time
02/13/2019Reading of amendment waived
02/13/2019Committee amendment agreed to
02/13/2019Engrossed by Senate as amended
02/13/2019Passed Senate with amendment (39-Y 0-N) (see vote tally)
02/13/2019Placed on Calendar
02/13/2019Senate amendment agreed to by House (89-Y 5-N)
02/13/2019VOTE: ADOPTION (89-Y 5-N) (see vote tally)
02/15/2019Enrolled
02/15/2019Bill text as passed House and Senate (HB2539ER)
02/15/2019Signed by Speaker
02/15/2019Signed by President
02/17/2019Impact statement from TAX (HB2539ER)
02/19/2019G Governor's Action Deadline Midnight, March 25, 2019
02/19/2019Enrolled Bill communicated to Governor on February 19, 2019
02/19/2019G Governor's Action Deadline Midnight, March 26, 2019
03/05/2019G Approved by Governor-Chapter 189 (effective 7/1/19)
03/05/2019G Acts of Assembly Chapter text (CHAP0189)

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