Virginia housing opportunity; tax credit established. (SB1197)

Introduced By

Sen. Mamie Locke (D-Hampton) with support from co-patron Sen. Jennifer Boysko (D-Herndon)

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

01/11/2021: Awaiting a Vote in the Finance and Appropriations Committee

History

DateAction
01/11/2021Prefiled and ordered printed; offered 01/13/21 21102520D
01/11/2021Referred to Committee on Finance and Appropriations
01/23/2021Impact statement from TAX (SB1197)

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