VA HB1741 | 2015 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 19 2015 - 100% progression
Action: 2015-03-19 - Governor: Acts of Assembly Chapter text (CHAP0336)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 19 2015 - 100% progression
Action: 2015-03-19 - Governor: Acts of Assembly Chapter text (CHAP0336)
Text: Latest bill text (Chaptered) [HTML]
Summary
Income tax subtraction for long-term capital gains; extends investment period. Extends from June 30, 2015, to June 30, 2020, the date by which investments in certain technology businesses must be made in order to claim an income tax subtraction for any long-term capital gain or investment services partnership interest income from such investments. Currently, a taxpayer investing in a technology business between April 1, 2010, and June 30, 2015, may claim an income tax subtraction for any long-term capital gain or investment services partnership interest income attributable to such investment if the business has its principal office or facility in the Commonwealth and had less than $3 million in annual revenues in the fiscal year prior to the investment. Under the bill, the Department of Taxation is required to record and, upon request, report the fiscal savings accruing to individuals and corporations claiming the subtraction.
Title
Income tax, state; subtraction for long-term capital gains, extends investment period.
Sponsors
Roll Calls
2015-02-13 - Senate - Senate: Passed Senate (36-Y 0-N) (Y: 36 N: 0 NV: 4 Abs: 0) [PASS]
2015-02-12 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2015-02-11 - Senate - Senate: Reported from Finance (12-Y 0-N) (Y: 12 N: 0 NV: 0 Abs: 0) [PASS]
2015-01-29 - House - House: VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N) (Y: 100 N: 0 NV: 2 Abs: 0) [PASS]
2015-01-29 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 3 Abs: 0) [PASS]
2015-01-26 - House - House: Reported from Finance with amendments (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2015-01-21 - House - House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-12 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2015-02-11 - Senate - Senate: Reported from Finance (12-Y 0-N) (Y: 12 N: 0 NV: 0 Abs: 0) [PASS]
2015-01-29 - House - House: VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N) (Y: 100 N: 0 NV: 2 Abs: 0) [PASS]
2015-01-29 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 3 Abs: 0) [PASS]
2015-01-26 - House - House: Reported from Finance with amendments (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2015-01-21 - House - House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2015-03-19 | Governor: Acts of Assembly Chapter text (CHAP0336) | |
| 2015-03-19 | Governor: Approved by Governor-Chapter 336 (effective 7/1/15) | |
| 2015-02-23 | Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015 | |
| 2015-02-23 | House | Enrolled Bill communicated to Governor on 2/23/15 |
| 2015-02-20 | Senate | Signed by President |
| 2015-02-18 | House | Signed by Speaker |
| 2015-02-18 | House | Bill text as passed House and Senate (HB1741ER) |
| 2015-02-18 | House | Enrolled |
| 2015-02-13 | Senate | Passed Senate (36-Y 0-N) |
| 2015-02-13 | Senate | Read third time |
| 2015-02-12 | Senate | Constitutional reading dispensed (37-Y 0-N) |
| 2015-02-11 | Senate | Reported from Finance (12-Y 0-N) |
| 2015-01-30 | Senate | Referred to Committee on Finance |
| 2015-01-30 | Senate | Constitutional reading dispensed |
| 2015-01-29 | House | VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N) |
| 2015-01-29 | House | Passed House BLOCK VOTE (98-Y 0-N) |
| 2015-01-29 | House | Reconsideration of passage agreed to by House |
| 2015-01-29 | House | VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) |
| 2015-01-29 | House | Read third time and passed House BLOCK VOTE (97-Y 0-N) |
| 2015-01-28 | House | Printed as engrossed 15101049D-E |
| 2015-01-28 | House | Engrossed by House as amended HB1741E |
| 2015-01-28 | House | Committee amendments agreed to |
| 2015-01-28 | House | Read second time |
| 2015-01-27 | House | Read first time |
| 2015-01-26 | House | Reported from Finance with amendments (22-Y 0-N) |
| 2015-01-21 | House | Subcommittee recommends reporting with amendment(s) (10-Y 0-N) |
| 2015-01-20 | House | Assigned Finance sub: Subcommittee #2 |
| 2015-01-12 | House | Referred to Committee on Finance |
| 2015-01-12 | House | Prefiled and ordered printed; offered 01/14/15 15101049D |
Same As/Similar To
SB904 (Same As) 2015-03-19 - Governor: Acts of Assembly Chapter text (CHAP0335)
