Virginia House Bill 1359 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 22 2010 - 25% progression, died in chamber
Action: 2010-02-10 - House: Incorporated by Finance (HB2-Loupassi) by voice vote
Text: Latest bill text (Introduced) [HTML]

Income tax; Small business investment tax credit. Establishes a tax credit for investments in machinery or equipment by small businesses. The credit would equal 20 percent of investment amount. The Department of Taxation would administer the tax credits. Taxpayers would not be allowed more than $10,000 in tax credit for any taxable year in which an incremental investment in machinery or equipment was made. Any unused tax credit would be allowed to be carried forward for five taxable years. The credit would be effective for taxable years 2010, 2011, and 2012.

Income tax, corporate; tax credit for investments in machinery or equipment by small businesses.

Del. Mark Keam [D]

Date	Chamber	Action
2010-02-10		House: Incorporated by Finance (HB2-Loupassi) by voice vote
2010-02-09		House: Subcommittee recommends incorporating (HB2-Loupassi) by voice vote
2010-01-26		House: Assigned Finance sub: #3
2010-01-22		House: Referred to Committee on Finance
2010-01-22		House: Presented and ordered printed 10103222D

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.12:0	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?101+sum+HB1359
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?101+ful+HB1359+hil