VA SB110 | 2020 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on March 25 2020 - 100% progression
Action: 2020-03-25 - Governor: Acts of Assembly Chapter text (CHAP0470)
Text: Latest bill text (Chaptered) [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 2021, 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 $24 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

2020-03-02 - Senate - Senate: Conference report agreed to by Senate (38-Y 2-N) (Y: 38 N: 2 NV: 0 Abs: 0) [PASS]
2020-02-28 - House - House: VOTE: Adoption (87-Y 10-N) (Y: 87 N: 10 NV: 3 Abs: 0) [PASS]
2020-02-24 - Senate - Senate: Senate acceded to request (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-19 - Senate - Senate: House substitute rejected by Senate (2-Y 35-N) (Y: 2 N: 35 NV: 3 Abs: 0) [FAIL]
2020-02-17 - House - House: VOTE: Passage (94-Y 6-N) (Y: 94 N: 6 NV: 0 Abs: 0) [PASS]
2020-02-12 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-03 - Senate - Senate: Read third time and passed Senate (39-Y 1-N) (Y: 39 N: 1 NV: 0 Abs: 0) [PASS]
2020-01-30 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2020-01-29 - Senate - Senate: Reported from Finance and Appropriations with substitute (13-Y 1-N) (Y: 13 N: 1 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2020-03-25 Governor: Acts of Assembly Chapter text (CHAP0470)
2020-03-25 Governor: Approved by Governor-Chapter 470 (effective 7/1/20)
2020-03-12 Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
2020-03-12SenateEnrolled Bill Communicated to Governor on March 12, 2020
2020-03-08HouseSigned by Speaker
2020-03-07SenateSigned by President
2020-03-07SenateBill text as passed Senate and House (SB110ER)
2020-03-07SenateEnrolled
2020-03-02SenateConference report agreed to by Senate (38-Y 2-N)
2020-02-28HouseVOTE: Adoption (87-Y 10-N)
2020-02-28HouseConference report agreed to by House (87-Y 10-N)
2020-02-27 Conference: Amended by conference committee
2020-02-25HouseDelegates: Jones, Keam, Ware
2020-02-25HouseConferees appointed by House
2020-02-24SenateSenators: Howell, Saslaw, Newman
2020-02-24SenateConferees appointed by Senate
2020-02-24SenateSenate acceded to request (40-Y 0-N)
2020-02-20HouseHouse requested conference committee
2020-02-20HouseHouse insisted on substitute
2020-02-19SenateHouse substitute rejected by Senate (2-Y 35-N)
2020-02-17HouseVOTE: Passage (94-Y 6-N)
2020-02-17HousePassed House with substitute (96-Y 6-N)
2020-02-17HouseEngrossed by House - committee substitute SB110H1
2020-02-17HouseCommittee substitute agreed to 20108185D-H1
2020-02-17HouseRead third time
2020-02-14HouseRead second time
2020-02-12HouseCommittee substitute printed 20108185D-H1
2020-02-12HouseReported from Finance with substitute (21-Y 1-N)
2020-02-12HouseReferred to Committee on Finance
2020-02-12HouseRead first time
2020-02-12HousePlaced on Calendar
2020-02-03SenateRead third time and passed Senate (39-Y 1-N)
2020-01-31SenateEngrossed by Senate - committee substitute SB110S1
2020-01-31SenateCommittee substitute agreed to 20106804D-S1
2020-01-31SenateReading of substitute waived
2020-01-31SenateRead second time
2020-01-30SenateConstitutional reading dispensed (37-Y 0-N)
2020-01-29SenateCommittee substitute printed 20106804D-S1
2020-01-29SenateReported from Finance and Appropriations with substitute (13-Y 1-N)
2020-01-08SenateMoved from Finance to Finance and Appropriations due to a change of the committee name
2019-12-12SenateReferred to Committee on Finance and Appropriations
2019-12-12SenatePrefiled and ordered printed; offered 01/08/20 20101366D

Same As/Similar To

HB748 (Same As) 2020-03-25 - Governor: Acts of Assembly Chapter text (CHAP0469)

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
Summaryhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+SB110
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB110+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB110S1+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB110H1+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB110ER+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0470+hil
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S05V0071+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0244SB0110+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0267SB0110+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H10V0308+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV0956+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0707SB0110+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0861SB0110+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV1592+SB0110
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV1317SB0110+SB0110

Bill Comments

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