VA SB904 | 2015 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 19 2015 - 100% progression
Action: 2015-03-19 - Governor: Acts of Assembly Chapter text (CHAP0335)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 19 2015 - 100% progression
Action: 2015-03-19 - Governor: Acts of Assembly Chapter text (CHAP0335)
Text: Latest bill text (Chaptered) [HTML]
Summary
Income tax subtraction for long-term capital gains; extends investment period. Extends from June 30, 2015, to June 30, 2020, the date by which investments in certain technology businesses must be made in order to claim an income tax subtraction for any long-term capital gain or investment services partnership interest income from such investments. Currently, a taxpayer investing in a technology business between April 1, 2010, and June 30, 2015, may claim an income tax subtraction for any long-term capital gain or investment services partnership interest income attributable to such investment if the business has its principal office or facility in the Commonwealth and had less than $3 million in annual revenues in the fiscal year prior to the investment. Under the bill, the Department of Taxation is required to record and, upon request, report the fiscal savings accruing to individuals and corporations claiming the subtraction.
Title
Income tax subtraction; long-term capital gain from qualified investments.
Sponsors
Roll Calls
2015-02-13 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 3 Abs: 0) [PASS]
2015-02-11 - House - House: Reported from Finance (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-30 - Senate - Senate: Read third time and passed Senate (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-01-28 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-01-27 - Senate - Senate: Reported from Finance with amendments (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2015-02-11 - House - House: Reported from Finance (21-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2015-01-30 - Senate - Senate: Read third time and passed Senate (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-01-28 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 2 Abs: 0) [PASS]
2015-01-27 - Senate - Senate: Reported from Finance with amendments (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2015-03-19 | Governor: Acts of Assembly Chapter text (CHAP0335) | |
| 2015-03-19 | Governor: Approved by Governor-Chapter 335 (effective 7/1/15) | |
| 2015-02-23 | Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015 | |
| 2015-02-23 | Senate | Enrolled Bill Communicated to Governor on 2/23/15 |
| 2015-02-20 | Senate | Signed by President |
| 2015-02-17 | House | Signed by Speaker |
| 2015-02-17 | Senate | Bill text as passed Senate and House (SB904ER) |
| 2015-02-17 | Senate | Enrolled |
| 2015-02-13 | House | VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) |
| 2015-02-13 | House | Passed House BLOCK VOTE (97-Y 0-N) |
| 2015-02-13 | House | Read third time |
| 2015-02-12 | House | Read second time |
| 2015-02-11 | House | Reported from Finance (21-Y 0-N) |
| 2015-02-06 | House | Referred to Committee on Finance |
| 2015-02-06 | House | Read first time |
| 2015-02-06 | House | Placed on Calendar |
| 2015-01-30 | Senate | Read third time and passed Senate (38-Y 0-N) |
| 2015-01-29 | Senate | Engrossed bill reprinted 15101865D-E |
| 2015-01-29 | Senate | Printed as engrossed 15101865D-E |
| 2015-01-29 | Senate | Engrossed by Senate as amended SB904E |
| 2015-01-29 | Senate | Committee amendments agreed to |
| 2015-01-29 | Senate | Reading of amendments waived |
| 2015-01-29 | Senate | Read second time |
| 2015-01-28 | Senate | Constitutional reading dispensed (38-Y 0-N) |
| 2015-01-27 | Senate | Reported from Finance with amendments (15-Y 0-N) |
| 2015-01-07 | Senate | Referred to Committee on Finance |
| 2015-01-07 | Senate | Prefiled and ordered printed; offered 01/14/15 15101865D |
Same As/Similar To
HB1741 (Same As) 2015-03-19 - Governor: Acts of Assembly Chapter text (CHAP0336)
