VA SB1197 | 2021 | 1st Special Session

Note: Carryover of previous SB1197

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on March 31 2021 - 100% progression
Action: 2021-03-31 - Governor: Acts of Assembly Chapter text (CHAP0495)
Text: Latest bill text (Chaptered) [HTML]

Summary

Virginia housing opportunity tax credit. Establishes, for taxable years 2021 through 2025, a Virginia housing opportunity tax credit, which is equal to the amount of the federal low-income housing tax credit allocated or allowed by the Virginia Housing Development Authority to a low-income building that is eligible for the federal credit. The credit would be nonrefundable and could be carried forward for up to five years. No more than $15 million in credits shall be granted per calendar year. Virginia housing opportunity tax credit. Establishes, for taxable years 2021 through 2025, a Virginia housing opportunity tax credit, which is equal to the amount of the federal low-income housing tax credit allocated or allowed by the Virginia Housing Development Authority to a low-income building that is eligible for the federal credit. The credit would be nonrefundable and could be carried forward for up to five years. No more than $15 million in credits shall be granted per calendar year.

Tracking Information

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Title

Virginia housing opportunity; tax credit established.

Sponsors


Roll Calls

2021-02-27 - House - House: VOTE: Agreed To (60-Y 39-N) (Y: 60 N: 39 NV: 0 Abs: 1) [PASS]
2021-02-27 - Senate - Senate: Conference report agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 0) [PASS]
2021-02-19 - Senate - Senate: Senate acceded to request (37-Y 0-N) (Y: 37 N: 0 NV: 0 Abs: 2) [PASS]
2021-02-19 - Senate - Senate: House substitute rejected by Senate (1-Y 36-N) (Y: 1 N: 36 NV: 0 Abs: 2) [FAIL]
2021-02-19 - House - House: VOTE: Passage (61-Y 39-N) (Y: 61 N: 39 NV: 0 Abs: 0) [PASS]
2021-02-17 - House - House: Reported from Appropriations with substitute (12-Y 8-N) (Y: 12 N: 8 NV: 0 Abs: 2) [PASS]
2021-02-17 - House - House: Subcommittee recommends reporting with substitute (5-Y 0-N) (Y: 5 N: 0 NV: 0 Abs: 3) [PASS]
2021-02-15 - House - House: Reported from Finance with amendment(s) (14-Y 8-N) (Y: 14 N: 8 NV: 0 Abs: 0) [PASS]
2021-02-04 - Senate - Senate: Passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 0) [PASS]
2021-02-04 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 1) [PASS]
2021-02-03 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 0 Abs: 2) [PASS]
2021-02-02 - Senate - Senate: Reported from Finance and Appropriations (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2021-03-31 Governor: Acts of Assembly Chapter text (CHAP0495)
2021-03-31 Governor: Approved by Governor-Chapter 495 (effective 7/1/21)
2021-03-15 Governor: Governor's Action Deadline 11:59 p.m., March 31, 2021
2021-03-15SenateEnrolled Bill Communicated to Governor on March 15, 2021
2021-03-11HouseSigned by Speaker
2021-03-09SenateSigned by President
2021-03-09SenateBill text as passed Senate and House (SB1197ER)
2021-03-09SenateEnrolled
2021-02-27HouseVOTE: Agreed To (60-Y 39-N)
2021-02-27HouseConference report agreed to by House (60-Y 39-N)
2021-02-27SenateConference report agreed to by Senate (39-Y 0-N)
2021-02-26SenateConference substitute printed 21200718D-S1
2021-02-26 Conference: Amended by conference committee
2021-02-19HouseDelegates: Sullivan, Bourne, Fowler
2021-02-19HouseConferees appointed by House
2021-02-19SenateSenators: Locke, Lucas, Vogel
2021-02-19SenateConferees appointed by Senate
2021-02-19SenateSenate acceded to request (37-Y 0-N)
2021-02-19HouseHouse requested conference committee
2021-02-19HouseHouse insisted on substitute
2021-02-19SenateHouse substitute rejected by Senate (1-Y 36-N)
2021-02-19SenatePassed by temporarily
2021-02-19HouseVOTE: Passage (61-Y 39-N)
2021-02-19HousePassed House with substitute (61-Y 39-N)
2021-02-19HouseEngrossed by House - committee substitute SB1197H1
2021-02-19HouseCommittee on Appropriations substitute agreed to 21200332D-H1
2021-02-19HouseCommittee on Finance amendment rejected
2021-02-19HouseCommittee on Finance amendment reconsidered
2021-02-19HouseCommittee on Finance amendment agreed to
2021-02-19HousePassed by temporarily
2021-02-19HouseRead third time
2021-02-18HouseRead second time
2021-02-17HouseCommittee substitute printed 21200332D-H1
2021-02-17HouseReported from Appropriations with substitute (12-Y 8-N)
2021-02-17HouseSubcommittee recommends reporting with substitute (5-Y 0-N)
2021-02-16HouseAssigned App. sub: Commerce Agriculture & Natural Resources
2021-02-15HouseReferred to Committee on Appropriations
2021-02-15HouseReported from Finance with amendment(s) (14-Y 8-N)
2021-02-08HouseContinued to Special Session 1 in Finance by voice vote
2021-02-07HouseReferred to Committee on Finance
2021-02-07HouseRead first time
2021-02-07HousePlaced on Calendar
2021-02-04SenatePassed Senate (39-Y 0-N)
2021-02-04SenateConstitutional reading dispensed (38-Y 0-N)
2021-02-04SenateRead second time and engrossed
2021-02-03SenateConstitutional reading dispensed (37-Y 0-N)
2021-02-02SenateReported from Finance and Appropriations (16-Y 0-N)
2021-01-11SenateReferred to Committee on Finance and Appropriations
2021-01-11SenatePrefiled and ordered printed; offered 01/13/21 21102520D

Same As/Similar To

SB1197 (Carry Over) 2021-02-08 - Continued to Special Session 1 in Finance by voice vote

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
581439.29(n/a)See Bill Text
581439.30(n/a)See Bill Text

Virginia State Sources

TypeSource
Summaryhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+sum+SB1197
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+ful+SB1197+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+ful+SB1197H1+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+ful+SB1197S1+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+ful+SB1197ER+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+ful+CHAP0495+hil
Amendmenthttps://committees.lis.virginia.gov/pdfs/drafts/21200151A.pdf
Amendmenthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+amd+SB1197AH
Amendmenthttps://committees.lis.virginia.gov/pdfs/drafts/21200332D.pdf
Amendmenthttps://committees.lis.virginia.gov/pdfs/21200332.pdf
Amendmenthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+amd+SB1197AHR
Amendmenthttps://lis.virginia.gov/cgi-bin/legp604.exe?212+amd+SB1197AC
Supplementhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+oth+SB1197F161+PDF
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+S05C0108+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+SC0288SB1197+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+SC0304SB1197+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+SC0305SB1197+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+H10V0007+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+H0201V0001+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+H02V0041+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+HV1777+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+SV0241SB1197+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+SV0247SB1197+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+SV0528SB1197+SB1197
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?212+vot+HV2013+SB1197

Bill Comments 750

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