Virginia Senate Bill 656 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 17 2014 - 25% progression, died in committee
Action: 2014-02-05 - Continued to 2015 in Finance (17-Y 0-N)
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Introduced) [HTML]

Local economic development. Provides that the Virginia income tax net revenue and sales and use tax generated by certain corporations or limited liability companies within a qualified locality shall be transferred to the qualified locality under certain conditions. A qualified locality is one that (i) has made application to the Virginia Economic Development Partnership Authority for a Major Employment and Investment Project Site Planning Grant pursuant to §2.2-2240.2 and has been rejected for such grant and (ii) has expended local funds for the economic development purposes specified in §2.2-2240.2. The total amount eligible to be returned to a qualified locality shall not exceed $5 million for any single economic development project.

Economic development, local; revenues from certain taxes for qualified locality.

Del. Thomas Garrett [R]

2014-02-05 - Senate - Senate: Continued to 2015 in Finance (17-Y 0-N) (Y: 17 N: 0 NV: 0 Abs: 0) [PASS]
2014-01-28 - Senate - Senate: Reported from Local Government (6-Y 3-N) (Y: 6 N: 3 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2014-02-05	Senate	Continued to 2015 in Finance (17-Y 0-N)
2014-02-05	Senate	Committee amendment
2014-01-28	Senate	Rereferred to Finance
2014-01-28	Senate	Reported from Local Government (6-Y 3-N)
2014-01-17	Senate	Referred to Committee on Local Government
2014-01-17	Senate	Presented and ordered printed 14104112D

Chapter	Article	Section	Citation Type	Statute Text
15	2	941.1	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+SB656
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB656+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+S07V0031+SB0656
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+S05V0134+SB0656