Landlords, participating; increases tax credit that may be issued. (HB1203)

Introduced By

Del. Rodney Willett (D-Henrico)

Progress

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

Description

Tax credit for participating landlords. Increases from $250,000 to $500,000 the maximum amount of tax credits that may be issued to participating landlords, as defined in relevant law, each fiscal year beginning with fiscal year 2025 and provides that, in the event that the amount of the qualified requests for tax credits for such participating landlords in the fiscal year exceeds $500,000, the Department of Housing and Community Development will prorate the tax credits among the qualified applicants. The bill also creates a pilot program that earmarks $100,000 for tax credits provided to a participating landlord renting a qualified housing unit in an eligible non-metropolitan census tract, as those terms are defined in the bill. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2024Committee
01/10/2024Prefiled and ordered printed; offered 01/10/24 24103177D
01/10/2024Referred to Committee on Finance
01/25/2024Assigned Finance sub: Subcommittee #1
01/28/2024Impact statement from TAX (HB1203)
01/29/2024House subcommittee amendments and substitutes offered
01/29/2024Subcommittee recommends reporting with substitute (5-Y 3-N)
01/29/2024Subcommittee recommends referring to Committee on Appropriations
01/31/2024Reported from Finance with substitute (13-Y 9-N) (see vote tally)
01/31/2024Referred to Committee on Appropriations
01/31/2024Assigned App. sub: Commerce Agriculture & Natural Resources
01/31/2024Committee substitute printed 24106413D-H1
02/02/2024Subcommittee recommends reporting (8-Y 0-N)
02/05/2024Reported from Appropriations with substitute (21-Y 0-N) (see vote tally)
02/05/2024Committee substitute printed 24107063D-H2
02/07/2024Read first time
02/08/2024Read second time
02/08/2024Committee from Finance substitute rejected 24106413D-H1
02/08/2024Committee on Appropriations substitute agreed to 24107063D-H2
02/08/2024Engrossed by House - committee substitute HB1203H2
02/09/2024Read third time and passed House (83-Y 13-N)
02/09/2024VOTE: Passage (83-Y 13-N) (see vote tally)
02/12/2024Constitutional reading dispensed
02/12/2024Referred to Committee on Finance and Appropriations
02/12/2024Impact statement from TAX (HB1203H2)
02/27/2024Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/27/2024Reported from Finance and Appropriations (15-Y 0-N) (see vote tally)
02/28/2024Read third time
02/28/2024Passed Senate (39-Y 0-N) (see vote tally)
03/05/2024Enrolled
03/05/2024Bill text as passed House and Senate (HB1203ER)
03/05/2024Impact statement from TAX (HB1203ER)
03/11/2024Enrolled Bill communicated to Governor on March 11, 2024
03/11/2024G Governor's Action Deadline 11:59 p.m., April 8, 2024
04/02/2024G Approved by Governor-Chapter 322 (effective 7/1/24)
04/02/2024G Acts of Assembly Chapter text (CHAP0322)

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