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