VA SB520 | 2023 | Regular Session

Note: Carry Over of previous SB520


Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2022 - 25% progression, died in committee
Action: 2022-11-21 - Left in Finance and Appropriations
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]


Income tax; motion picture production tax credit. Removes the sunset for the motion picture production tax credit, which currently is set to expire after taxable year 2026. The bill increases the aggregate limit on credits from $6.5 million to $15 million starting with fiscal year 2021 and also provides that credits allocated for episodic content, gaming, virtual reality, and augmented reality productions shall not count against the aggregate limit. The bill provides that if the amount of credits actually claimed is less than the aggregate limit for that year, the unclaimed remainder shall be added to the limit for the next year. The bill authorizes credits to be issued for multiyear periods. Under current law, if production continues for more than one year, the taxpayer must file a separate application for each year.

Tracking Information

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Income tax, state; motion picture production tax credit.


Roll Calls

2022-02-08 - Senate - Senate: Continued to 2023 in Finance and Appropriations (14-Y 1-N) (Y: 14 N: 1 NV: 0 Abs: 0) [PASS]


2022-11-21SenateLeft in Finance and Appropriations
2022-02-08SenateContinued to 2023 in Finance and Appropriations (14-Y 1-N)
2022-01-12SenateReferred to Committee on Finance and Appropriations
2022-01-12SenatePrefiled and ordered printed; offered 01/12/22 22102572D

Same As/Similar To

SB520 (Carry Over) 2022-02-08 - Continued to 2023 in Finance and Appropriations (14-Y 1-N)


Code Citations

ChapterArticleSectionCitation TypeStatute Text
581439.12:03(n/a)See Bill Text

Virginia State Sources

Bill Comments