SB110
Research and development tax credits; extends sunset date, aggregate caps.
Summary
As Passed Both Chambers. Research and development tax credits; sunset; aggregate caps.
Extends the sunset date for both the research and development expenses tax credit and the major research and development expenses tax credit from January 1, 2022, to January 1, 2025. Beginning with taxable year 2021, the bill increases the aggregate cap of the research and development expenses tax credit from ... (More) $7 million to $7.77 million and increases the aggregate cap of the major research and development expenses tax credit from $20 million to $24 million. For both credits, the bill moves back the annual deadline for applications for the credit from July 1 to September 1. This bill is identical to HB 748.(Less)
-
Bill History
- 12/12/2019 - Senate: Prefiled and ordered printed; offered 01/08/20 20101366D
- 12/12/2019 - Senate: Referred to Committee on Finance and Appropriations
- 01/08/2020 - Senate: Moved from Finance to Finance and Appropriations due to a change of the committee name
- 01/29/2020 - Senate: Reported from Finance and Appropriations with substitute (13-Y 1-N)
- 01/29/2020 - Senate: Committee substitute printed 20106804D-S1
- 01/30/2020 - Senate: Constitutional reading dispensed (37-Y 0-N)
- 01/31/2020 - Senate: Read second time
- 01/31/2020 - Senate: Reading of substitute waived
- 01/31/2020 - Senate: Committee substitute agreed to 20106804D-S1
- 01/31/2020 - Senate: Engrossed by Senate - committee substitute SB110S1
- 02/03/2020 - Senate: Read third time and passed Senate (39-Y 1-N)
- 02/12/2020 - House: Placed on Calendar
- 02/12/2020 - House: House committee, floor amendments and substitutes offered
- 02/12/2020 - House: Read first time
- 02/12/2020 - House: Referred to Committee on Finance
- 02/12/2020 - House: Reported from Finance with substitute (21-Y 1-N)
- 02/12/2020 - House: Committee substitute printed 20108185D-H1
- 02/14/2020 - House: Read second time
- 02/17/2020 - House: Read third time
- 02/17/2020 - House: Committee substitute agreed to 20108185D-H1
- 02/17/2020 - House: Engrossed by House - committee substitute SB110H1
- 02/17/2020 - House: Passed House with substitute (96-Y 6-N)
- 02/17/2020 - House: VOTE: Passage (94-Y 6-N)
- 02/19/2020 - Senate: House substitute rejected by Senate (2-Y 35-N)
- 02/20/2020 - House: House insisted on substitute
- 02/20/2020 - House: House requested conference committee
- 02/24/2020 - Senate: Senate acceded to request (40-Y 0-N)
- 02/24/2020 - Senate: Conferees appointed by Senate
- 02/24/2020 - Senate: Senators: Howell, Saslaw, Newman
- 02/25/2020 - House: Conferees appointed by House
- 02/25/2020 - House: Delegates: Jones, Keam, Ware
- 02/27/2020 - Conference: Amended by conference committee
- 02/28/2020 - House: Conference report agreed to by House (87-Y 10-N)
- 02/28/2020 - House: VOTE: Adoption (87-Y 10-N)
- 03/02/2020 - Senate: Conference report agreed to by Senate (38-Y 2-N)
- 03/06/2020 - Senate: Impact statement from TAX (SB110)
- 03/06/2020 - Senate: Impact statement from TAX (SB110S1)
- 03/07/2020 - Senate: Enrolled
- 03/07/2020 - Senate: Bill text as passed Senate and House (SB110ER)
- 03/07/2020 - Senate: Signed by President
- 03/08/2020 - House: Signed by Speaker
- 03/12/2020 - Senate: Enrolled Bill Communicated to Governor on March 12, 2020
- 03/12/2020 - Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
- 03/16/2020 - Senate: Impact statement from TAX (SB110ER)
- 03/25/2020 - Governor: Approved by Governor-Chapter 470 (effective 7/1/20)
- 03/25/2020 - Governor: Acts of Assembly Chapter text (CHAP0470)
