Virginia housing opportunity; tax credit established starting in taxable year 2021. (HB2050)

Introduced By

Del. Jeff Bourne (D-Richmond) with support from 12 copatrons, whose average partisan position is:

Those copatrons are Del. Lamont Bagby (D-Richmond), Del. Betsy Carr (D-Richmond), Del. Patrick Hope (D-Arlington), Del. Candi King (D-Woodbridge), Del. Alfonso Lopez (D-Arlington), Del. Kathleen Murphy (D-McLean), Del. Ken Plum (D-Reston), Del. Sam Rasoul (D-Roanoke), Del. David Reid (D-Loudoun), Del. Don Scott (D-Portsmouth), Del. Marcus Simon (D-Falls Church), Del. Shelly Simonds (D-Newport News)

Progress

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

Description

Virginia housing opportunity tax credit. Establishes, starting in taxable year 2021, a Virginia housing opportunity tax credit, which is equal to the amount of the federal low-income housing tax credit allocated or allowed by the Virginia Housing Development Authority to a low-income building that is eligible for the federal credit. The credit would be nonrefundable and could be carried forward for up to five years. Read the Bill »

Status

01/16/2021: Awaiting a Vote in the Finance Committee

History

DateAction
01/12/2021Prefiled and ordered printed; offered 01/13/21 21102648D
01/12/2021Referred to Committee on Finance
01/16/2021Assigned Finance sub: Subcommittee #3
01/21/2021Impact statement from TAX (HB2050)
01/22/2021Subcommittee recommends laying on the table (7-Y 1-N)

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