Virginia House Bill 896 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2014 - 25% progression, died in committee
Action: 2014-01-27 - Continued to 2015 in Finance by voice vote
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Income tax; public school renovation tax credit. Provides an income tax credit to persons that complete the renovation or retrofitting of a public school during the taxable year, in accordance with the provisions of the Public-Private Education Facilities and Infrastructure Act. The credit would be available beginning with the 2014 taxable year and thereafter. The amount of the credit would be 25 percent of the person's eligible renovation expenses, regardless of the year incurred, not to exceed $1 million for the renovation or retrofitting. Also, there is a cap of $100 million on the aggregate amount of credits that may be issued in any fiscal year. Credits would not be issued for any taxable year for which federal law allows a federal income tax credit for the renovation or retrofitting of a public school.

Income tax, state; tax credit for completion of public school renovation.

Del. Christopher Stolle [R]

Date	Chamber	Action
2014-01-27	House	Continued to 2015 in Finance by voice vote
2014-01-24	House	Subcommittee recommends continuing to 2015 by voice vote
2014-01-22	House	Assigned Finance sub: Subcommittee #3
2014-01-08	House	Referred to Committee on Finance
2014-01-08	House	Prefiled and ordered printed; offered 01/08/14 14102527D

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.12:11	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+HB896
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+HB896+hil