VA SB718 | 2016 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 21 2016 - 25% progression, died in chamber
Action: 2016-02-10 - Incorporated by Finance
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 21 2016 - 25% progression, died in chamber
Action: 2016-02-10 - Incorporated by Finance
Text: Latest bill text (Introduced) [HTML]
Summary
Coal tax credits. Limits the aggregate amount of credits that may be allocated or claimed for the coal employment and production incentive tax credit to $7.5 million. An electricity generator must file an application with the Department of Taxation each year to determine the amount of credits that it may claim or allocate, including credits earned in prior taxable years. If the total amount of credits earned in a taxable year exceeds $7.5 million, the Department of Taxation shall apportion the credits on a pro rata basis. The bill also extends the sunset date of the coalfield employment enhancement tax credit through taxable years beginning before January 1, 2021.
Title
Coal tax; limits aggregate amount of credits.
Sponsors
Roll Calls
2016-02-10 - Senate - Senate: Incorporated by Finance (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2016-02-10 | Senate | Incorporated by Finance |
2016-01-21 | Senate | Referred to Committee on Finance |
2016-01-21 | Senate | Presented and ordered printed 16104637D |
Same As/Similar To
SB44 (Similar To) 2016-04-20 - Requires 26 affirmative votes to pass in enrolled form
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
58 | 1 | 433.1 | (n/a) | See Bill Text |
58 | 1 | 439.2 | (n/a) | See Bill Text |