Virginia port volume increase tax credit; transfer of credits. (SB1652)

Introduced By

Sen. Louise Lucas (D-Portsmouth)

Progress

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

Description

Virginia port volume increase tax credit; transfer of credits. Allows a taxpayer granted Virginia port volume increase tax credits to transfer unused credits to another taxpayer. The tax credit may be applied retroactively by the transferee to the date that the credits were originally issued so long as the statute of limitations for filing an amended return has not expired. Any transfer of credits shall occur within one calendar year of the credit holder earning the credit. Only tax credits issued in taxable years beginning on and after January 1, 2018, but before January 1, 2022, shall be transferable. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/09/2019Presented and ordered printed 19103066D
01/09/2019Referred to Committee on Finance
01/28/2019Impact statement from TAX (SB1652)
01/29/2019Reported from Finance with amendment (16-Y 0-N) (see vote tally)
01/30/2019Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/31/2019Read second time
01/31/2019Reading of amendment waived
01/31/2019Committee amendment agreed to
01/31/2019Amendment by Senator Hanger agreed to
01/31/2019Engrossed by Senate as amended SB1652E
01/31/2019Printed as engrossed 19103066D-E
02/01/2019Read third time and passed Senate (40-Y 0-N) (see vote tally)
02/05/2019Assigned App. sub: Transportation
02/06/2019Placed on Calendar
02/06/2019Read first time
02/06/2019Referred to Committee on Appropriations
02/06/2019Assigned App. sub: Transportation
02/12/2019House committee, floor amendments and substitutes offered
02/12/2019Reported from Appropriations with amendments (22-Y 0-N) (see vote tally)
02/12/2019Impact statement from TAX (SB1652E)
02/12/2019Read second time
02/13/2019House committee, floor amendments and substitutes offered
02/13/2019Read third time
02/13/2019Committee amendments agreed to
02/13/2019Engrossed by House as amended
02/13/2019Passed House with amendments (85-Y 9-N)
02/13/2019VOTE: PASSAGE (85-Y 9-N) (see vote tally)
02/13/2019House amendments agreed to by Senate (38-Y 0-N) (see vote tally)
02/18/2019Enrolled
02/18/2019Bill text as passed Senate and House (SB1652ER)
02/18/2019Signed by Speaker
02/19/2019Signed by President
02/20/2019G Governor's Action Deadline Midnight, March 25, 2019
02/20/2019Enrolled Bill Communicated to Governor on February 20, 2019
02/20/2019G Governor's Action Deadline Midnight, March 26, 2019
02/21/2019Impact statement from TAX (SB1652ER)
03/21/2019G Approved by Governor-Chapter 759 (effective 7/1/19)
03/21/2019G Acts of Assembly Chapter text (CHAP0759)