Virginia House Bill 1092 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on January 9 2008 - 25% progression, died in chamber
Action: 2008-02-04 - House: Incorporated by Finance (HB125-Purkey) by voice vote

Virginia Biotechnology Investment Tax Credit. Creates a research and development tax credit, not to exceed 50 percent of the tax liability due and not to exceed $500,000, for biotechnology companies in Virginia and permits the credit to be carried over for up to 10 years, for taxable years beginning on and after January 1, 2008. This tax credit, not to exceed 15 percent of the qualified investment, can be claimed for each of the five tax years beginning on and after January 1, 2008. In no event will more than $5 million in either of the credits be allowed annually. This bill was incorporated into

Income tax, corporate; biotechnology investment tax credit.

Del. John O'Bannon [R]

Del. Mark Sickles [D]

Date	Chamber	Action
2008-02-04		House: Incorporated by Finance (HB125-Purkey) by voice vote
2008-01-15		House: Assigned Finance sub: 3
2008-01-09		House: Referred to Committee on Finance
2008-01-09		House: Prefiled and ordered printed; offered 01/09/08 085933736

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+HB1092