Coal tax credits; sunset dates. (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 Coal Employment and Production Incentive tax 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. The bill directs the Department of Mines, Minerals and Energy to convene a stakeholder process to report by December 1, 2021, on recommendations for how the Commonwealth can provide economic transition support to the coalfield region. This bill is identical to HB 1899. Read the Bill »

Status

07/25/2021: Awaiting a Vote in the Finance Committee

History

DateAction
01/12/2021Prefiled and ordered printed; offered 01/13/21 21100972D
01/12/2021Referred to Committee on Finance and Appropriations
01/22/2021Impact statement from TAX (SB1252)
01/26/2021House subcommittee amendments and substitutes offered
02/02/2021Senate committee, floor amendments and substitutes offered
02/02/2021Reported from Finance and Appropriations with substitute (13-Y 2-N 1-A) (see vote tally)
02/02/2021Committee substitute printed 21104311D-S1
02/03/2021Constitutional reading dispensed (37-Y 0-N) (see vote tally)
02/04/2021Read second time
02/04/2021Reading of substitute waived
02/04/2021Committee substitute agreed to 21104311D-S1
02/04/2021Engrossed by Senate - committee substitute SB1252S1
02/05/2021Read third time and passed Senate (22-Y 17-N) (see vote tally)
02/07/2021Placed on Calendar
02/07/2021Read first time
02/07/2021Referred to Committee on Finance
02/08/2021Continued to Special Session 1 in Finance
02/09/2021Impact statement from TAX (SB1252S1)
02/10/2021Reported from Finance (13-Y 9-N) (see vote tally)
02/12/2021Read second time
02/15/2021Read third time
02/15/2021Passed House (55-Y 45-N)
02/15/2021VOTE: Passage (55-Y 45-N) (see vote tally)
02/17/2021Enrolled
02/17/2021Bill text as passed Senate and House (SB1252ER)
02/17/2021Signed by President
02/18/2021Signed by Speaker
02/22/2021Enrolled Bill Communicated to Governor on February 22, 2021
02/22/2021G Governor's Action Deadline 11:59 p.m., March 31, 2021
02/24/2021Impact statement from TAX (SB1252ER)
03/31/2021Governor's recommendation received by Senate
04/07/2021Senate rejected Governor's recommendation (14-Y 26-N)
04/07/2021Communicated to Governor
04/07/2021G Governor's Action Deadline 11:59 p.m., May 7, 2021
04/15/2021G Approved by Governor-Chapter 554 (effective 7/1/21)
04/15/2021G Acts of Assembly Chapter text (CHAP0554)

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