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HB1382

Agricultural best management practices tax credit; refundability for corporations.

Status:
Enacted

Chief Patron:
Kathy Byron (R)

Session:
2018 Regular Session

Summary

As Introduced. Agricultural best management practices tax credit; refundability for corporations.

Allows taxpayers to apply for a refund of corporate income tax credits received for expenditures for agricultural best management practices. Under current law, corporate income tax credits that exceed the taxpayer's tax liability are not refundable but may be carried forward for up to five years. Furthermore, under current law, individual income tax credits for expenditures related to agricultural best management practices are refundable. (Less)

  • Bill History

  • 01/12/2018 - House: Presented and ordered printed 18104070D
  • 01/12/2018 - House: Referred to Committee on Finance
  • 01/30/2018 - House: Assigned Finance sub: Subcommittee #2
  • 01/31/2018 - House: Subcommittee recommends reporting (7-Y 0-N)
  • 02/07/2018 - House: Reported from Finance (21-Y 0-N)
  • 02/09/2018 - House: Read first time
  • 02/12/2018 - House: Read second time and engrossed
  • 02/13/2018 - House: Read third time and passed House (100-Y 0-N)
  • 02/13/2018 - House: VOTE: PASSAGE (100-Y 0-N)
  • 02/14/2018 - Senate: Constitutional reading dispensed
  • 02/14/2018 - Senate: Referred to Committee on Finance
  • 02/20/2018 - House: Impact statement from TAX (HB1382)
  • 02/27/2018 - Senate: Reported from Finance (16-Y 0-N)
  • 02/28/2018 - Senate: Constitutional reading dispensed (40-Y 0-N)
  • 02/28/2018 - Senate: Read third time
  • 02/28/2018 - Senate: Passed Senate (40-Y 0-N)
  • 03/01/2018 - House: Enrolled
  • 03/01/2018 - House: Bill text as passed House and Senate (HB1382ER)
  • 03/01/2018 - House: Signed by Speaker
  • 03/02/2018 - House: Impact statement from TAX (HB1382ER)
  • 03/03/2018 - Senate: Signed by President
  • 03/07/2018 - House: Enrolled Bill communicated to Governor on March 7, 2018
  • 03/07/2018 - Governor: Governor's Action Deadline Midnight, April 9, 2018
  • 03/30/2018 - Governor: Approved by Governor-Chapter 556 (effective 7/1/18)
  • 03/30/2018 - Governor: Acts of Assembly Chapter text (CHAP0556)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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