VA SB580 | 2016 | Regular Session

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on March 7 2016 - 100% progression
Action: 2016-03-07 - Governor: Acts of Assembly Chapter text (CHAP0304)
Text: Latest bill text (Chaptered) [HTML]

Summary

Income tax credit; food crop donations to a food bank. Establishes an individual and corporate income tax credit beginning in 2016 for food crops that are grown by a person engaged in the business of farming and donated by such person to a nonprofit food bank. The credit would equal 30 percent of the fair market value of the food crops donated by the person during the taxable year, not to exceed an aggregate of $5,000 for any taxable year. The bill defines food crops as grains, fruits, nuts, or vegetables. The Department of Taxation will administer the tax credit and may issue up to $250,000 in tax credits each fiscal year. The bill provides for any unused credit to be carried forward for five years. The credit would sunset on January 1, 2022.

Tracking Information

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Title

Income tax, state and corporate; tax credits for food crop donations to nonprofit food bank.

Sponsors


Roll Calls

2016-02-24 - House - House: VOTE: PASSAGE (97-Y 2-N 1-A) (Y: 100 N: 2 NV: 0 Abs: 1) [PASS]
2016-02-22 - House - House: Reported from Finance (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2016-02-17 - House - House: Subcommittee recommends reporting (9-Y 0-N) (Y: 9 N: 0 NV: 1 Abs: 0) [PASS]
2016-02-11 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-11 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-10 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2016-02-09 - Senate - Senate: Reported from Finance with amendment (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2016-03-07 Governor: Acts of Assembly Chapter text (CHAP0304)
2016-03-07 Governor: Approved by Governor-Chapter 304 (effective 7/1/16)
2016-02-29 Governor: Governor's Action Deadline Midnight, March 7, 2016
2016-02-29SenateEnrolled Bill Communicated to Governor on 2/29/16
2016-02-26SenateSigned by President
2016-02-25HouseSigned by Speaker
2016-02-25SenateBill text as passed Senate and House (SB580ER)
2016-02-25SenateEnrolled
2016-02-24HouseVOTE: PASSAGE (97-Y 2-N 1-A)
2016-02-24HousePassed House (97-Y 2-N 1-A)
2016-02-24HouseRead third time
2016-02-23HouseRead second time
2016-02-22HouseReported from Finance (21-Y 1-N)
2016-02-17HouseSubcommittee recommends reporting (9-Y 0-N)
2016-02-16HouseAssigned Finance sub: Subcommittee #1
2016-02-15HouseReferred to Committee on Finance
2016-02-15HouseRead first time
2016-02-15HousePlaced on Calendar
2016-02-11SenatePrinted as engrossed 16103014D-E
2016-02-11SenatePassed Senate (40-Y 0-N)
2016-02-11SenateConstitutional reading dispensed (40-Y 0-N)
2016-02-11SenateEngrossed by Senate as amended SB580E
2016-02-11SenateCommittee amendment agreed to
2016-02-11SenateReading of amendment waived
2016-02-11SenateRead second time
2016-02-10SenateConstitutional reading dispensed (40-Y 0-N)
2016-02-09SenateReported from Finance with amendment (15-Y 0-N)
2016-01-13SenateReferred to Committee on Finance
2016-01-13SenatePrefiled and ordered printed; offered 01/13/16 16103014D

Same As/Similar To

HB1093 (Same As) 2016-03-11 - Governor: Acts of Assembly Chapter text reprinted (CHAP0391)

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581322(n/a)See Bill Text
581402(n/a)See Bill Text
581439.12:11(n/a)See Bill Text

Virginia State Sources

TypeSource
Summaryhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+sum+SB580
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB580+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB580E+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB580ER+hil
Texthttps://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+CHAP0304+hil
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+S05V0092+SB0580
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0313SB0580+SB0580
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0331SB0580+SB0580
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+SV0332SB0580+SB0580
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+H1001V0033+SB0580
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+H10V0144+SB0580
Roll Callhttps://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+HV0868+SB0580

Bill Comments

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