Virginia Senate Bill 325 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 12 2010 - 25% progression, died in chamber
Action: 2010-02-10 - Senate: Passed by indefinitely in Finance (9-Y 6-N)
Text: Latest bill text (Prefiled) [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 establishes a new office or operation or expands an existing office or operation in an area that is not designated by the U.S. Environmental Protection Agency as a nonattainment area under the Clear Air Act, for taxable years beginning on or after January 1, 2010. The capital investment must be $250,000 or more and the tax reduction may not exceed that amount of the capital investment made by the corporation.

Income tax, corporate; lower rate for certain businesses.

Sen. Richard Stuart [R]

2010-02-10 - Senate - Senate: Passed by indefinitely in Finance (9-Y 6-N) (Y: 9 N: 6 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2010-02-10		Senate: Passed by indefinitely in Finance (9-Y 6-N)
2010-01-12		Senate: Referred to Committee on Finance
2010-01-12		Senate: Prefiled and ordered printed; offered 01/13/10 10103381D

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?101+sum+SB325
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?101+ful+SB325+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?101+vot+S05V0100+SB0325