Virginia Senate Bill 117 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 3 2008 - 25% progression, died in chamber
Action: 2008-02-05 - Senate: Stricken at request of Patron in Finance (14-Y 0-N)

Income tax and sales and use tax; credit and exemption for certain telecommunications service providers. Creates an income tax credit and sales and use tax exemption for wireless and broadband equipment purchased by telecommunications providers for use within rural areas of the Commonwealth. For taxable years beginning on and after January 1, 2008, the income tax credit is equal to 30% of all expenditures for wireless and broadband equipment used in providing telecommunications services in the rural areas of the Commonwealth. There is a $10 million cap on the total amount of income tax credits that may be allowed in any tax year. The sales and use tax exemption is phased in beginning January 1, 2009, with 25% of the purchase price being exempt and increasing to 100% by 2011.

Income tax and sales and use tax; credit and exemption for telecommunications service providers.

Sen. John Edwards [D]

Date	Chamber	Action
2008-02-05		Senate: Stricken at request of Patron in Finance (14-Y 0-N)
2008-01-03		Senate: Referred to Committee on Finance
2008-01-03		Senate: Prefiled and ordered printed; offered 01/09/08 082838228

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+SB117