Sunset of coal tax credits. (SB1252)

Introduced By

Sen. Jeremy McPike (D-Dale City) with support from co-patron Del. Ken Plum (D-Reston)

Progress

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

Description

Sunset of coal tax credits. Sunsets the Coal Employment and Production Incentive Tax Credit and Coalfield Employment Enhancement Tax Credit after tax year 2021 and prohibits the allocation of such credits on and after January 1, 2022. The bill provides that if credits were earned prior to January 1, 2022, the credit holder may claim the credits in subsequent tax years pursuant to the applicable carryover requirements of current law; however, such credit holders would be limited to claiming $1 million in carryover credits per taxable year. Read the Bill »

Status

01/12/2021: Awaiting a Vote in the Finance and Appropriations Committee

History

DateAction
01/12/2021Prefiled and ordered printed; offered 01/13/21 21100972D
01/12/2021Referred to Committee on Finance and Appropriations

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