Virginia House Bill 2680 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on January 14 2019 - 25% progression, died in committee
Action: 2019-02-05 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

Milk production tax credit. Creates an income tax Milk production tax credit. Creates an income tax credit beginning in taxable year 2019 for taxpayers who own a dairy farm that sells milk below the producer price that is determined by the State Milk Commission. The credit equals $1,000 per million pounds of milk sold below the producer price for the first seven million pounds, $500 per million pounds of milk sold below the producer price for amounts greater than seven million but not greater than 20 million pounds, $200 per million pounds of milk sold below the producer price for amounts greater than 20 million but not greater than 50 million pounds, and $100 per million pounds of milk sold below the producer price for amounts greater than 50 million pounds but not greater than 90 million

Milk production; creates an income tax credit.

Del. Tony Wilt [R]

Del. Steven Landes [R]

Del. Alfonso Lopez [D]

Date	Chamber	Action
2019-02-05	House	Left in Finance
2019-01-18	House	Assigned Finance sub: Subcommittee #3
2019-01-14	House	Referred to Committee on Finance
2019-01-14	House	Presented and ordered printed 19102787D

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.12:13	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+HB2680
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB2680+hil