Virginia Senate Bill 1252 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on February 4 2021 - 50% progression, died in chamber
Action: 2021-02-08 - Continued to Special Session 1 in Finance by voice vote
Text: Latest bill text (Comm Sub) [HTML]

Sunset of coal tax credits. Sunsets the Coal Employment and Production Incentive Tax Credit and Coalfield Employment Enhancement Tax Credit after tax year 2021 and prohibits the allocation of such credits on and after January 1, 2022. The bill provides that if Coal Employment and Production Incentive Tax Credit credits were earned prior to January 1, 2022, the credit holder may claim the credits in subsequent tax years pursuant to the applicable carryover requirements of current law; however, such credit holders would be limited to claiming $1 million in carryover credits per taxable year. The bill directs the Department of Mines, Minerals and Energy to convene a stakeholder process to report by December 1, 2021 on recommendations for how the Commonwealth can provide economic transition support to the coalfield region. Sunset of coal tax credits. Sunsets the Coal Employment and Production Incentive Tax Credit and Coalfield Employment Enhancement Tax Credit after tax year 2021 and prohibits the allocation of such credits on and after January 1, 2022. The bill provides that if Coal Employment and Production Incentive Tax Credit credits were earned prior to January 1, 2022, the credit holder may claim the credits in subsequent tax years pursuant to the applicable carryover requirements of current law; however, such credit holders would be limited to claiming $1 million in carryover credits per taxable year. The bill directs the Department of Mines, Minerals and Energy to convene a stakeholder process to report by December 1, 2021 on recommendations for how the Commonwealth can provide economic transition support to the coalfield region.

Coal tax credits; sunset dates.

Sen. Jeremy McPike [D]

2021-02-05 - Senate - Senate: Read third time and passed Senate (22-Y 17-N) (Y: 22 N: 17 NV: 0 Abs: 0) [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 with substitute (13-Y 2-N 1-A) (Y: 13 N: 2 NV: 1 Abs: 0) [PASS]

Date	Chamber	Action
2021-02-08	House	Continued to Special Session 1 in Finance by voice vote
2021-02-07	House	Referred to Committee on Finance
2021-02-07	House	Read first time
2021-02-07	House	Placed on Calendar
2021-02-05	Senate	Read third time and passed Senate (22-Y 17-N)
2021-02-04	Senate	Engrossed by Senate - committee substitute SB1252S1
2021-02-04	Senate	Committee substitute agreed to 21104311D-S1
2021-02-04	Senate	Reading of substitute waived
2021-02-04	Senate	Read second time
2021-02-03	Senate	Constitutional reading dispensed (37-Y 0-N)
2021-02-02	Senate	Committee substitute printed 21104311D-S1
2021-02-02	Senate	Reported from Finance and Appropriations with substitute (13-Y 2-N 1-A)
2021-01-12	Senate	Referred to Committee on Finance and Appropriations
2021-01-12	Senate	Prefiled and ordered printed; offered 01/13/21 21100972D

SB1252 (Carry Over) 2021-02-08 - Continued to Special Session 1 in Finance by voice vote

Chapter	Article	Section	Citation Type	Statute Text
58	1	2626.1	(n/a)	See Bill Text
58	1	433.1	(n/a)	See Bill Text
58	1	439.2	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?211+sum+SB1252
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?211+ful+SB1252+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?211+ful+SB1252S1+hil
Amendment	https://committees.lis.virginia.gov/pdfs/drafts/21104311D.pdf
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?211+oth+SB1252F161+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+S05V0112+SB1252
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+SV0288SB1252+SB1252
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+SV0336SB1252+SB1252