VA HB896 | 2015 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2014 - 25% progression, died in committee
Action: 2014-12-04 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 8 2014 - 25% progression, died in committee
Action: 2014-12-04 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Income tax; public school renovation tax credit. Provides an income tax credit to persons that complete the renovation or retrofitting of a public school during the taxable year, in accordance with the provisions of the Public-Private Education Facilities and Infrastructure Act. The credit would be available beginning with the 2014 taxable year and thereafter. The amount of the credit would be 25 percent of the person's eligible renovation expenses, regardless of the year incurred, not to exceed $1 million for the renovation or retrofitting. Also, there is a cap of $100 million on the aggregate amount of credits that may be issued in any fiscal year. Credits would not be issued for any taxable year for which federal law allows a federal income tax credit for the renovation or retrofitting of a public school.
Title
Income tax, state; tax credit for completion of public school renovation.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2014-12-04 | House | Left in Finance |
2014-01-27 | House | Continued to 2015 in Finance by voice vote |
2014-01-24 | House | Subcommittee recommends continuing to 2015 by voice vote |
2014-01-22 | House | Assigned Finance sub: Subcommittee #3 |
2014-01-08 | House | Referred to Committee on Finance |
2014-01-08 | House | Prefiled and ordered printed; offered 01/08/14 14102527D |
Code Citations
Virginia State Sources
Type | Source |
---|---|
Summary | https://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+HB896 |
Text | https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+HB896+hil |