Research and development expenses; tax credit available against the bank franchise tax. (SB1112)
Introduced By
Sen. Mamie Locke (D-Hampton) with support from co-patron Sen. Louise Lucas (D-Portsmouth)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Research and development tax credits. Provides that the research and development expenses tax credit and the major research and development expenses tax credit shall be available against the bank franchise tax for taxable years beginning on and after January 1, 2021. Under current law, the credits are available only against the individual and corporate income tax. This bill is identical to HB 1916. Read the Bill »
Status
03/11/2021: signed by governor
History
Date | Action |
---|---|
12/15/2020 | Prefiled and ordered printed; offered 01/13/21 21101371D |
12/15/2020 | Referred to Committee on Finance and Appropriations |
01/18/2021 | Impact statement from TAX (SB1112) |
01/20/2021 | Senate committee, floor amendments and substitutes offered |
01/20/2021 | Reported from Finance and Appropriations with amendments (15-Y 0-N) (see vote tally) |
01/21/2021 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
01/22/2021 | Read second time |
01/22/2021 | Reading of amendments waived |
01/22/2021 | Committee amendments agreed to |
01/22/2021 | Engrossed by Senate as amended SB1112E |
01/22/2021 | Printed as engrossed 21101371D-E |
01/25/2021 | Read third time and passed Senate (39-Y 0-N) (see vote tally) |
02/02/2021 | Placed on Calendar |
02/02/2021 | Read first time |
02/02/2021 | Referred to Committee on Finance |
02/08/2021 | Continued to Special Session 1 in Finance |
02/09/2021 | Impact statement from TAX (SB1112E) |
02/10/2021 | Reported from Finance (21-Y 0-N) (see vote tally) |
02/12/2021 | Read second time |
02/15/2021 | Read third time |
02/15/2021 | Passed House BLOCK VOTE (100-Y 0-N) |
02/15/2021 | VOTE: Block Vote Passage (100-Y 0-N) (see vote tally) |
02/17/2021 | Enrolled |
02/17/2021 | Bill text as passed Senate and House (SB1112ER) |
02/17/2021 | Signed by President |
02/18/2021 | Signed by Speaker |
02/22/2021 | Enrolled Bill Communicated to Governor on February 22, 2021 |
02/22/2021 | G Governor's Action Deadline 11:59 p.m., March 31, 2021 |
03/01/2021 | Impact statement from TAX (SB1112ER) |
03/11/2021 | G Approved by Governor-Chapter 48 (effective 7/1/21) |
03/11/2021 | G Acts of Assembly Chapter text (CHAP0048) |