Virginia Senate Bill 47 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 2-0)
Status: Passed on August 4 2022 - 100% progression
Action: 2022-08-04 - Governor: Acts of Assembly Chapter text (CHAP0003)
Text: Latest bill text (Chaptered) [HTML]

Income tax; housing opportunity tax credits. Makes various changes to the Virginia housing opportunity tax credit program. The bill provides that the annual cap for the amount of Virginia housing opportunity tax credits that may be issued per calendar year in calendar years 2022 through 2025 shall equal $60 million, where such credits issued in each calendar year are allowed ratably, with one-tenth of the total amount of such credits allowed annually for 10 years over the credit period. Under current law, the housing opportunity tax credit is subject to an annual cap of $15 million per calendar year. The bill also provides that $20 million of such $60 million annual cap must be first allocated exclusively for qualified projects located in a locality with a population no greater than 35,000. The bill imposes a new aggregate cap of $255 million on Virginia housing opportunity tax credits issued across all calendar years 2021 through 2025. The bill repeals authorization for the Virginia Housing Development Authority (VHDA) to create a certificated program and instead provides that VHDA must provide information, data, and advisement on a separately authorized certificated program at the request of the chairmen of the House Committee on Appropriations, the House Committee on Finance, and the Senate Committee on Finance and Appropriations. Income tax; housing opportunity tax credits. Makes various changes to the Virginia housing opportunity tax credit program. The bill provides that the annual cap for the amount of Virginia housing opportunity tax credits that may be issued per calendar year in calendar years 2022 through 2025 shall equal $60 million, where such credits issued in each calendar year are allowed ratably, with one-tenth of the total amount of such credits allowed annually for 10 years over the credit period. Under current law, the housing opportunity tax credit is subject to an annual cap of $15 million per calendar year. The bill also provides that $20 million of such $60 million annual cap must be first allocated exclusively for qualified projects located in a locality with a population no greater than 35,000. The bill imposes a new aggregate cap of $255 million on Virginia housing opportunity tax credits issued across all calendar years 2021 through 2025. The bill repeals authorization for the Virginia Housing Development Authority (VHDA) to create a certificated program and instead provides that VHDA must provide information, data, and advisement on a separately authorized certificated program at the request of the chairmen of the House Committee on Appropriations, the House Committee on Finance, and the Senate Committee on Finance and Appropriations.

Income tax, state; housing opportunity tax credits.

Sen. Mamie Locke [D]

Sen. Jennifer McClellan [D]

2022-06-17 - House - House: VOTE: Adoption (86-Y 3-N) (Y: 86 N: 3 NV: 0 Abs: 11) [PASS]
2022-06-17 - Senate - Senate: Conference report agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2022-03-02 - Senate - Senate: Senate acceded to request (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-03-02 - Senate - Senate: House substitute rejected by Senate (1-Y 36-N) (Y: 1 N: 36 NV: 0 Abs: 3) [FAIL]
2022-03-02 - House - House: VOTE: Block Vote Passage (100-Y 0-N) (Y: 100 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-28 - House - House: Reported from Appropriations with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-14 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-14 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-11 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-10 - Senate - Senate: Reported from Finance and Appropriations with substitute (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2022-08-04		Governor: Acts of Assembly Chapter text (CHAP0003)
2022-08-04		Governor: of adjournment of the 2022 Special Session l)
2022-08-04		Governor: Approved by Governor-Chapter 3 (effective on the 1st day of the 4th month following the month
2022-07-28		Governor: Governor's Action Deadline 11:59 p.m., August 4, 2022
2022-07-28	Senate	Enrolled Bill Communicated to Governor on July 28, 2022
2022-07-21	Senate	Signed by President
2022-07-20	House	Signed by Speaker
2022-07-20	Senate	Bill text as passed Senate and House (SB47ER)
2022-07-20	Senate	Enrolled
2022-06-17	House	VOTE: Adoption (86-Y 3-N)
2022-06-17	House	Conference report agreed to by House (86-Y 3-N)
2022-06-17	Senate	Conference report agreed to by Senate (39-Y 0-N)
2022-06-17	Senate	Passed by temporarily
2022-06-01	Senate	Substitute bill reprinted 22208270D-S2
2022-06-01	Senate	Conference substitute printed 22208270D-S2
2022-06-01		Conference: Amended by conference committee
2022-03-12	Senate	Continued to 2022 Sp. Sess. 1 pursuant to HJR455
2022-03-02	House	Delegates: Bloxom, Marshall, Reid
2022-03-02	House	Conferees appointed by House
2022-03-02	Senate	Senators: Locke, Lucas, Hanger
2022-03-02	Senate	Conferees appointed by Senate
2022-03-02	Senate	Senate acceded to request (40-Y 0-N)
2022-03-02	House	House requested conference committee
2022-03-02	House	House insisted on substitute
2022-03-02	Senate	House substitute rejected by Senate (1-Y 36-N)
2022-03-02	House	VOTE: Block Vote Passage (100-Y 0-N)
2022-03-02	House	Passed House with substitute BLOCK VOTE (100-Y 0-N)
2022-03-02	House	Engrossed by House - committee substitute SB47H1
2022-03-02	House	Committee substitute agreed to 22107098D-H1
2022-03-02	House	Read third time
2022-03-01	House	Read second time
2022-02-28	House	Committee substitute printed 22107098D-H1
2022-02-28	House	Reported from Appropriations with substitute (22-Y 0-N)
2022-02-23	House	Referred to Committee on Appropriations
2022-02-23	House	Referred from Finance by voice vote
2022-02-22	House	Assigned Finance sub: Subcommittee #1
2022-02-18	House	Referred to Committee on Finance
2022-02-18	House	Read first time
2022-02-18	House	Placed on Calendar
2022-02-14	Senate	Passed Senate (40-Y 0-N)
2022-02-14	Senate	Constitutional reading dispensed (40-Y 0-N)
2022-02-14	Senate	Engrossed by Senate - committee substitute SB47S1
2022-02-14	Senate	Committee substitute agreed to 22106337D-S1
2022-02-14	Senate	Reading of substitute waived
2022-02-14	Senate	Read second time
2022-02-11	Senate	Constitutional reading dispensed (40-Y 0-N)
2022-02-10	Senate	Committee substitute printed 22106337D-S1
2022-02-10	Senate	Reported from Finance and Appropriations with substitute (16-Y 0-N)
2021-12-29	Senate	Referred to Committee on Finance and Appropriations
2021-12-29	Senate	Prefiled and ordered printed; offered 01/12/22 22101688D

SB47 (Carry Over) 2022-03-12 - Continued to 2022 Sp. Sess. 1 pursuant to HJR455

Chapter	Article	Section	Citation Type	Statute Text
58	1	439.29	(n/a)	See Bill Text
58	1	439.30	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?222+sum+SB47
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?222+ful+SB47+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?222+ful+SB47S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?222+ful+SB47H1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?222+ful+SB47S2+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?222+ful+SB47ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?222+ful+CHAP0003+hil
Amendment	https://lis.virginia.gov/cgi-bin/legp604.exe?222+amd+SB47AC
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?222+oth+SB47F161+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?222+oth+SB47FS1161+PDF
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?222+oth+SB47FER161+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+S05C0216+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+SC0359SB0047+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+SC0397SB0047+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+SC0398SB0047+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+H02C0227+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+HC1352+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+SC0707SB0047+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+SC0731SB0047+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+SV0042SB0047+SB0047
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?222+vot+HV1895+SB0047