Virginia Senate Bill 998 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 11 2011 - 25% progression, died in committee
Action: 2011-02-22 - House: Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

Corporate income tax; lower rate for certain businesses. Reduces the corporate income tax rate from six percent to three percent for the first three years after a business located (i) outside Virginia opens an office in a Virginia locality with population of 200,000 or fewer individuals and (ii) in a Virginia locality with a population exceeding 200,000 people opens a satellite office or operation in a Virginia locality with a population of 200,000 or fewer, for taxable years beginning on or after January 1, 2011. The capital investment made by the corporation must be $250,000 or more and the tax reduction may not exceed the amount of that capital investment.

Income tax, corporate; lower rate for certain businesses.

Sen. William Stanley [R]

Sen. Richard Stuart [R]

2011-01-31 - Senate - Senate: Passed Senate (30-Y 9-N) (Y: 30 N: 9 NV: 1 Abs: 0) [PASS]
2011-01-31 - Senate - Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2011-01-31 - Senate - Senate: Read third time and passed Senate (29-Y 9-N) (Y: 29 N: 9 NV: 2 Abs: 0) [PASS]
2011-01-26 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2011-01-25 - Senate - Senate: Reported from Finance (8-Y 6-N) (Y: 8 N: 6 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2011-02-22		House: Left in Finance
2011-02-10		House: Subcommittee recommends passing by indefinitely by voice vote
2011-02-08		House: Assigned Finance sub: #1
2011-02-07		House: Referred to Committee on Finance
2011-02-07		House: Read first time
2011-02-07		House: Placed on Calendar
2011-01-31		Senate: Passed Senate (30-Y 9-N)
2011-01-31		Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N)
2011-01-31		Senate: Read third time and passed Senate (29-Y 9-N)
2011-01-28		Senate: Passed by for the day
2011-01-27		Senate: Read second time and engrossed
2011-01-26		Senate: Constitutional reading dispensed (38-Y 0-N)
2011-01-25		Senate: Reported from Finance (8-Y 6-N)
2011-01-11		Senate: Referred to Committee on Finance
2011-01-11		Senate: Prefiled and ordered printed; offered 01/12/11 11103400D

Chapter	Article	Section	Citation Type	Statute Text
58	1	400	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?111+sum+SB998
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+SB998+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+S05V0055+SB0998
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+SV0106SB0998+SB0998
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+SV0133SB0998+SB0998
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+SV0138SB0998+SB0998
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+SV0139SB0998+SB0998