Virginia House Bill 1241 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 8 2020 - 25% progression, died in committee
Action: 2020-02-11 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Income tax modifications for certain companies in economically distressed localities. Adds the City of Portsmouth to the list of economically distressed localities in which a company may invest to become eligible for certain income tax modifications. Under current law, a company is eligible for such modifications if, among other things, it either (i) invests at least $5 million in new capital investment in a qualified locality and creates at least 10 jobs paying at least 150 percent of the minimum wage in a qualified locality or (ii) creates at least 50 jobs paying at least 150 percent of the minimum wage in a qualified locality.

Income tax, state; modifications for certain companies in economically distressed localities.

Del. Steve Heretick [D]

2020-01-20 - House - House: Subcommittee failed to recommend reporting (3-Y 5-N) (Y: 3 N: 5 NV: 3 Abs: 0) [FAIL]

Date	Chamber	Action
2020-02-11	House	Left in Finance
2020-01-20	House	Subcommittee failed to recommend reporting (3-Y 5-N)
2020-01-16	House	Assigned Finance sub: Subcommittee #1
2020-01-08	House	Referred to Committee on Finance
2020-01-08	House	Prefiled and ordered printed; offered 01/08/20 20103381D

Chapter	Article	Section	Citation Type	Statute Text
15	2	958.2:01	(n/a)	See Bill Text
58	1	405.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB1241
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB1241+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H1001V0008+HB1241