Research and development tax credits; extends sunset date, aggregate caps. (SB110)

Introduced By

Sen. Janet Howell (D-Reston) with support from co-patron Del. Kaye Kory (D-Falls Church)

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 HB 748. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/12/2019Referred to Committee on Finance
12/12/2019Prefiled and ordered printed; offered 01/08/20 20101366D
12/12/2019Referred to Committee on Finance and Appropriations
01/08/2020Moved from Finance to Finance and Appropriations due to a change of the committee name
01/25/2020Impact statement from TAX (SB110)
01/29/2020Reported from Finance and Appropriations with substitute (13-Y 1-N) (see vote tally)
01/29/2020Committee substitute printed 20106804D-S1
01/30/2020Constitutional reading dispensed (37-Y 0-N) (see vote tally)
01/31/2020Read second time
01/31/2020Reading of substitute waived
01/31/2020Committee substitute agreed to 20106804D-S1
01/31/2020Engrossed by Senate - committee substitute SB110S1
02/03/2020Read third time and passed Senate (39-Y 1-N) (see vote tally)
02/11/2020Impact statement from TAX (SB110S1)
02/12/2020Placed on Calendar
02/12/2020House committee, floor amendments and substitutes offered
02/12/2020Read first time
02/12/2020Referred to Committee on Finance
02/12/2020Reported from Finance with substitute (21-Y 1-N) (see vote tally)
02/12/2020Committee substitute printed 20108185D-H1
02/14/2020Read second time
02/17/2020Read third time
02/17/2020Committee substitute agreed to 20108185D-H1
02/17/2020Engrossed by House - committee substitute SB110H1
02/17/2020Passed House with substitute (96-Y 6-N)
02/17/2020VOTE: Passage (94-Y 6-N) (see vote tally)
02/19/2020House substitute rejected by Senate (2-Y 35-N) (see vote tally)
02/20/2020House insisted on substitute
02/20/2020House requested conference committee
02/24/2020Senate acceded to request (40-Y 0-N) (see vote tally)
02/24/2020Conferees appointed by Senate
02/24/2020Senators: Howell, Saslaw, Newman
02/25/2020Conferees appointed by House
02/25/2020Delegates: Jones, Keam, Ware
02/27/2020C Amended by conference committee
02/28/2020Conference report agreed to by House (87-Y 10-N)
02/28/2020VOTE: Adoption (87-Y 10-N) (see vote tally)
03/02/2020Conference report agreed to by Senate (38-Y 2-N) (see vote tally)
03/06/2020Impact statement from TAX (SB110)
03/06/2020Impact statement from TAX (SB110S1)
03/07/2020Enrolled
03/07/2020Bill text as passed Senate and House (SB110ER)
03/07/2020Signed by President
03/08/2020Signed by Speaker
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
03/16/2020Impact statement from TAX (SB110ER)
03/25/2020G Approved by Governor-Chapter 470 (effective 7/1/20)

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