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)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Passed


01/07/2020Prefiled and ordered printed; offered 01/08/20 20101348D
01/07/2020Referred to Committee on Finance
01/25/2020Impact statement from TAX (HB748)
01/29/2020Assigned Finance sub: Subcommittee #1
02/03/2020House subcommittee amendments and substitutes offered
02/03/2020Subcommittee recommends reporting with amendments (10-Y 0-N)
02/03/2020Subcommittee recommends referring to Committee on Appropriations
02/05/2020Reported from Finance with amendments (18-Y 4-N) (see vote tally)
02/05/2020Referred to Committee on Appropriations
02/06/2020Assigned App. sub: Commerce Agriculture & Natural Resources
02/07/2020Subcommittee recommends reporting (8-Y 0-N)
02/07/2020Reported from Appropriations (22-Y 0-N) (see vote tally)
02/09/2020Read first time
02/10/2020Read second time
02/10/2020Committee amendments agreed to
02/10/2020Engrossed by House as amended HB748E
02/10/2020Printed as engrossed 20101348D-E
02/11/2020Read third time and passed House (91-Y 8-N)
02/11/2020VOTE: Passage (91-Y 8-N) (see vote tally)
02/12/2020Constitutional reading dispensed
02/12/2020Referred to Committee on Finance and Appropriations
02/17/2020Impact statement from TAX (HB748E)
02/25/2020Reported from Finance and Appropriations with substitute (16-Y 0-N) (see vote tally)
02/25/2020Committee substitute printed 20108926D-S1
02/26/2020VOTE: Adoption (0-Y 92-N) (see vote tally)
02/26/2020Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/26/2020Read third time
02/26/2020Reading of substitute waived
02/26/2020Committee substitute agreed to 20108926D-S1
02/26/2020Engrossed by Senate - committee substitute HB748S1
02/26/2020Passed Senate with substitute (38-Y 2-N) (see vote tally)
02/26/2020Senate substitute rejected by House 20108926D-S1 (0-Y 92-N)
02/26/2020VOTE: REJECTED (0-Y 92-N) (see vote tally)
02/26/2020Senate insisted on amendments (40-Y 0-N) (see vote tally)
02/26/2020Senate requested conference committee
02/27/2020House acceded to request
02/27/2020Conferees appointed by House
02/27/2020Delegates: Jones, Keam, Ware
02/27/2020Conferees appointed by Senate
02/27/2020Senators: Howell, Saslaw, Newman
02/27/2020C Amended by conference committee
02/28/2020Conference report agreed to by House (85-Y 7-N)
02/28/2020VOTE: Adoption (85-Y 7-N) (see vote tally)
03/02/2020Conference report agreed to by Senate (38-Y 2-N) (see vote tally)
03/05/2020Bill text as passed House and Senate (HB748ER)
03/06/2020Impact statement from TAX (HB748)
03/06/2020Impact statement from TAX (HB748E)
03/06/2020Signed by Speaker
03/06/2020Signed by President
03/11/2020Impact statement from TAX (HB748ER)
03/12/2020Enrolled Bill communicated to Governor on March 12, 2020
03/12/2020G Governor's Action Deadline 11:59 p.m., April 11, 2020
03/25/2020G Approved by Governor-Chapter 469 (effective 7/1/20)
03/25/2020G Acts of Assembly Chapter text (CHAP0469)