Research and development tax credits; extends sunset date, aggregate caps. (HB748)
Introduced By
Del. Jay Jones (D-Norfolk) with support from 7 copatrons, whose average partisan position is:
Those copatrons are Del. Steve Heretick (D-Portsmouth), Del. Mark Keam (D-Vienna), Del. Kaye Kory (D-Falls Church), Del. Martha Mugler (D-Hampton, Del. Kathleen Murphy (D-McLean), Del. David Reid (D-Loudoun), Del. Don Scott (D-Portsmouth)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Research and development tax credits; sunset; aggregate caps. Extends the sunset date for both the research and development expenses tax credit and the major research and development expenses tax credit from January 1, 2022, to January 1, 2025. Beginning with taxable year 2021, the bill increases the aggregate cap of the research and development expenses tax credit from $7 million to $7.77 million and increases the aggregate cap of the major research and development expenses tax credit from $20 million to $24 million. For both credits, the bill moves back the annual deadline for applications for the credit from July 1 to September 1. This bill is identical to SB 110. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/07/2020 | Prefiled and ordered printed; offered 01/08/20 20101348D |
01/07/2020 | Referred to Committee on Finance |
01/25/2020 | Impact statement from TAX (HB748) |
01/29/2020 | Assigned Finance sub: Subcommittee #1 |
02/03/2020 | House subcommittee amendments and substitutes offered |
02/03/2020 | Subcommittee recommends reporting with amendments (10-Y 0-N) |
02/03/2020 | Subcommittee recommends referring to Committee on Appropriations |
02/05/2020 | Reported from Finance with amendments (18-Y 4-N) (see vote tally) |
02/05/2020 | Referred to Committee on Appropriations |
02/06/2020 | Assigned App. sub: Commerce Agriculture & Natural Resources |
02/07/2020 | Subcommittee recommends reporting (8-Y 0-N) |
02/07/2020 | Reported from Appropriations (22-Y 0-N) (see vote tally) |
02/09/2020 | Read first time |
02/10/2020 | Read second time |
02/10/2020 | Committee amendments agreed to |
02/10/2020 | Engrossed by House as amended HB748E |
02/10/2020 | Printed as engrossed 20101348D-E |
02/11/2020 | Read third time and passed House (91-Y 8-N) |
02/11/2020 | VOTE: Passage (91-Y 8-N) (see vote tally) |
02/12/2020 | Constitutional reading dispensed |
02/12/2020 | Referred to Committee on Finance and Appropriations |
02/17/2020 | Impact statement from TAX (HB748E) |
02/25/2020 | Reported from Finance and Appropriations with substitute (16-Y 0-N) (see vote tally) |
02/25/2020 | Committee substitute printed 20108926D-S1 |
02/26/2020 | VOTE: Adoption (0-Y 92-N) (see vote tally) |
02/26/2020 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/26/2020 | Read third time |
02/26/2020 | Reading of substitute waived |
02/26/2020 | Committee substitute agreed to 20108926D-S1 |
02/26/2020 | Engrossed by Senate - committee substitute HB748S1 |
02/26/2020 | Passed Senate with substitute (38-Y 2-N) (see vote tally) |
02/26/2020 | Senate substitute rejected by House 20108926D-S1 (0-Y 92-N) |
02/26/2020 | VOTE: REJECTED (0-Y 92-N) (see vote tally) |
02/26/2020 | Senate insisted on amendments (40-Y 0-N) (see vote tally) |
02/26/2020 | Senate requested conference committee |
02/27/2020 | House acceded to request |
02/27/2020 | Conferees appointed by House |
02/27/2020 | Delegates: Jones, Keam, Ware |
02/27/2020 | Conferees appointed by Senate |
02/27/2020 | Senators: Howell, Saslaw, Newman |
02/27/2020 | C Amended by conference committee |
02/28/2020 | Conference report agreed to by House (85-Y 7-N) |
02/28/2020 | VOTE: Adoption (85-Y 7-N) (see vote tally) |
03/02/2020 | Conference report agreed to by Senate (38-Y 2-N) (see vote tally) |
03/05/2020 | Enrolled |
03/05/2020 | Bill text as passed House and Senate (HB748ER) |
03/06/2020 | Impact statement from TAX (HB748) |
03/06/2020 | Impact statement from TAX (HB748E) |
03/06/2020 | Signed by Speaker |
03/06/2020 | Signed by President |
03/11/2020 | Impact statement from TAX (HB748ER) |
03/12/2020 | Enrolled Bill communicated to Governor on March 12, 2020 |
03/12/2020 | G Governor's Action Deadline 11:59 p.m., April 11, 2020 |
03/25/2020 | G Approved by Governor-Chapter 469 (effective 7/1/20) |
03/25/2020 | G Acts of Assembly Chapter text (CHAP0469) |