VA SB1205 | 2015 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 10 2015 - 100% progression
Action: 2015-03-10 - Governor: Acts of Assembly Chapter text (CHAP0094)
Text: Latest bill text (Chaptered) [HTML]

Summary

Recyclable materials tax credit. Changes the recyclable materials tax credit by (i) extending the expiration date of the credit by five years to January 1, 2020, (ii) increasing the credit allowed from 10 to 20 percent of the purchase price of qualifying machinery and equipment, (iii) prohibiting denial of the credit based solely on another person's use of tangible personal property produced by the credit applicant from recyclable materials, (iv) clarifying that no credit will be allowed for machinery and equipment that does not manufacture, process, compound, or produce items of tangible personal property from recyclable materials, and (v) establishing an annual cap of $2 million in recyclable materials tax credits that may be issued by the Department of Taxation. The provisions of the bill are effective for taxable years beginning on or after January 1, 2015.

Tracking Information

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Title

Recyclable materials; changes tax credit by extending expiration date to January 1, 2020.

Sponsors


Roll Calls

2015-02-13 - House - House: VOTE: PASSAGE (94-Y 2-N) (Y: 96 N: 2 NV: 4 Abs: 0) [PASS]
2015-02-11 - House - House: Reported from Finance (20-Y 1-N) (Y: 20 N: 1 NV: 1 Abs: 0) [PASS]
2015-02-02 - Senate - Senate: Passed Senate (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-02-02 - Senate - Senate: Reconsideration of passage agreed to by Senate (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2015-02-02 - Senate - Senate: Read third time and passed Senate (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2015-01-29 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-28 - Senate - Senate: Reported from Finance with substitute (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2015-03-10 Governor: Acts of Assembly Chapter text (CHAP0094)
2015-03-10 Governor: Approved by Governor-Chapter 94 (effective 1/1/15)
2015-02-23 Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015
2015-02-23SenateEnrolled Bill Communicated to Governor on 2/23/15
2015-02-20SenateSigned by President
2015-02-17HouseSigned by Speaker
2015-02-17SenateBill text as passed Senate and House (SB1205ER)
2015-02-17SenateEnrolled
2015-02-13HouseVOTE: PASSAGE (94-Y 2-N)
2015-02-13HousePassed House (94-Y 2-N)
2015-02-13HouseRead third time
2015-02-12HouseRead second time
2015-02-11HouseReported from Finance (20-Y 1-N)
2015-02-06HouseReferred to Committee on Finance
2015-02-06HouseRead first time
2015-02-06HousePlaced on Calendar
2015-02-02SenatePassed Senate (38-Y 0-N)
2015-02-02SenateReconsideration of passage agreed to by Senate (37-Y 0-N)
2015-02-02SenateRead third time and passed Senate (37-Y 0-N)
2015-01-30SenateEngrossed by Senate - committee substitute SB1205S1
2015-01-30SenateCommittee substitute agreed to 15104123D-S1
2015-01-30SenateReading of substitute waived
2015-01-30SenateRead second time
2015-01-29SenateConstitutional reading dispensed (39-Y 0-N)
2015-01-28SenateCommittee substitute printed 15104123D-S1
2015-01-28SenateReported from Finance with substitute (14-Y 0-N)
2015-01-13SenateReferred to Committee on Finance
2015-01-13SenatePrefiled and ordered printed; offered 01/14/15 15101974D

Same As/Similar To

HB1554 (Same As) 2015-03-10 - Governor: Acts of Assembly Chapter text (CHAP0049)

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581439.7(n/a)See Bill Text

Virginia State Sources

TypeSource
Summaryhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+SB1205
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB1205+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB1205S1+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB1205ER+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+CHAP0094+hil
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+S05V0096+SB1205
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0160SB1205+SB1205
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0182SB1205+SB1205
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0184SB1205+SB1205
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0185SB1205+SB1205
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+H10V0121+SB1205
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+HV2316+SB1205

Bill Comments 750

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