Virginia House Bill 1581 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 2 2017 - 25% progression, died in committee
Action: 2017-02-07 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Made in Appalachia tax credits. Establishes beginning in taxable year 2017 refundable tax credits for certain investments in the localities of the Appalachian region. The bill defines the "Appalachian region" to include the localities of the Cumberland Plateau, LENOWISCO, and Mount Rogers planning districts. Any person may claim a credit in the amount of (i) 10 percent of any capital investment in the Appalachian region, (ii) $6,000 per full-time job created in the Appalachian region that pays at or above the locality's median wage, and (iii) the sales tax paid by the person in purchasing materials directly used in the manufacture of products in the Appalachian region. The bill authorizes the Department of Taxation to issue up to $40 million in credits per taxable year. Any person who earns credits would be allowed to transfer unused credits to another taxpayer; however, such transfer would be subject to a fee of one percent of the dollar amount of the credits.

Made in Appalachia Initiative; refundable tax credits.

Del. Jeffrey Campbell [R]

Del. Israel O'Quinn [R]

Date	Chamber	Action
2017-02-07	House	Left in Finance
2017-01-20	House	Subcommittee recommends laying on the table by voice vote
2017-01-19	House	Assigned Finance sub: Subcommittee #3
2017-01-02	House	Referred to Committee on Finance
2017-01-02	House	Prefiled and ordered printed; offered 01/11/17 17102041D

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.29	(n/a)	See Bill Text
58	1	439.32	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+HB1581
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB1581+hil