Virginia Senate Bill 718 (Prior Session Legislation)

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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]

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.

Coal tax; limits aggregate amount of credits.

Sen. Benton Chafin [R]

2016-02-10 - Senate - Senate: Incorporated by Finance (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

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

SB44 (Similar To) 2016-04-20 - Requires 26 affirmative votes to pass in enrolled form

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

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?161+sum+SB718
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?161+ful+SB718+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?161+vot+S05V0135+SB0718