Virginia House Bill 1830 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 10 2017 - 25% progression, died in committee
Action: 2017-02-07 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Artificial intelligence industry tax deductions. Establishes Artificial intelligence industry tax deductions. Establishes additional corporate and individual income tax deductions beginning January 1, 2017, for artificial intelligence industry employers for (i) compensation paid to employees and independent contractors who have earned an undergraduate or graduate degree in a program accredited by the Accreditation Board for Engineering and Technology (ABET) and (ii) tuition payments or reimbursements on behalf of employees and independent contractors earning an undergraduate or graduate degree in a program accredited by ABET while employed by, or performing services under a contract with, such employers. The deduction for compensation paid equals (a) 20 percent of such compensation paid for the first through fifth years of employment if the employee or independent contractor graduated from an ABET-accredited program located in the Commonwealth or (b) 10 percent of the compensation paid for the first through fifth years of employment if the qualified employee or independent contractor graduated from an ABET-accredited program located outside the Commonwealth. In no event would the deduction allowed for compensation exceed $4,000 each year of employment for each employee or independent contractor. In no event would the deduction allowed for tuition payments or reimbursements on behalf of each employee or independent contractor for the relevant year of employment exceed 50 percent of the average annual amount for enrollment and instruction in an ABET-accredited

Income tax, state and corporate; artificial intelligence industry tax deduction.

Del. David Yancey [R]

Date	Chamber	Action
2017-02-07	House	Left in Finance
2017-01-25	House	Subcommittee recommends laying on the table by voice vote
2017-01-19	House	Assigned Finance sub: Subcommittee #2
2017-01-10	House	Referred to Committee on Finance
2017-01-10	House	Prefiled and ordered printed; offered 01/11/17 17103820D

Chapter	Article	Section	Citation Type	Statute Text
58	1	322	(n/a)	See Bill Text
58	1	402	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+HB1830
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB1830+hil