VA HB748 | 2020 | Regular Session

Status

Spectrum: Moderate Partisan Bill (Democrat 9-1)
Status: Engrossed on February 10 2020 - 50% progression
Action: 2020-02-12 - Referred to Committee on Finance and Appropriations
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Engrossed) [HTML]

Summary

Research and development tax credits; sunset; aggregate caps. Extends the sunset date for both the research and development expenses tax credit and the major research and development expenses tax credit from January 1, 2022, to January 1, 2025. Beginning with taxable year 2020, the bill increases the aggregate cap of the research and development expenses tax credit from $7 million to $7.77 million and increases the aggregate cap of the major research and development expenses tax credit from $20 million to $22 million. For both credits, the bill moves back the annual deadline for applications for the credit from July 1 to September 1.

Tracking Information

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Title

Research and development tax credits; extends sunset date, aggregate caps.

Sponsors


Roll Calls

2020-02-11 - House - House: VOTE: Passage (91-Y 8-N) (Y: 90 N: 8 NV: 1 Abs: 0) [PASS]
2020-02-07 - House - House: Reported from Appropriations (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-07 - House - House: Reported from Appropriations (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-07 - House - House: Subcommittee recommends reporting (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with amendments (18-Y 4-N) (Y: 18 N: 4 NV: 0 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with amendments (18-Y 4-N) (Y: 18 N: 4 NV: 0 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with amendments (18-Y 4-N) (Y: 18 N: 4 NV: 0 Abs: 0) [PASS]
2020-02-03 - House - House: Subcommittee recommends reporting with amendments (10-Y 0-N) (Y: 10 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2020-02-12SenateReferred to Committee on Finance and Appropriations
2020-02-12SenateConstitutional reading dispensed
2020-02-11HouseVOTE: Passage (91-Y 8-N)
2020-02-11HouseRead third time and passed House (91-Y 8-N)
2020-02-10HousePrinted as engrossed 20101348D-E
2020-02-10HouseEngrossed by House as amended HB748E
2020-02-10HouseCommittee amendments agreed to
2020-02-10HouseRead second time
2020-02-09HouseRead first time
2020-02-07HouseReported from Appropriations (22-Y 0-N)
2020-02-07HouseSubcommittee recommends reporting (8-Y 0-N)
2020-02-06HouseAssigned App. sub: Commerce Agriculture & Natural Resources
2020-02-05HouseReferred to Committee on Appropriations
2020-02-05HouseReported from Finance with amendments (18-Y 4-N)
2020-02-03HouseSubcommittee recommends referring to Committee on Appropriations
2020-02-03HouseSubcommittee recommends reporting with amendments (10-Y 0-N)
2020-01-29HouseAssigned Finance sub: Subcommittee #1
2020-01-07HouseReferred to Committee on Finance
2020-01-07HousePrefiled and ordered printed; offered 01/08/20 20101348D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581439.12:08(n/a)See Bill Text
581439.12:11(n/a)See Bill Text

Virginia State Sources

TypeSource
Summaryhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB748
Texthttp://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB748+hil
Texthttp://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB748E+hil
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H1001V0027+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H10V0064+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H10V0166+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H10V0215+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H0201V0036+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H02V0217+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H02V0260+HB0748
Roll Callhttp://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV0855+HB0748

Bill Comments

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