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SB1252

Coal tax credits; sunset dates.

Status:
Passed

Chief Patron:
Jeremy McPike (D)

Session:
2021 Regular Session

Summary

As Passed House of Origin. Sunset of coal tax credits.

Sunsets the Coal Employment and Production Incentive Tax Credit and Coalfield Employment Enhancement Tax Credit after tax year 2021 and prohibits the allocation of such credits on and after January 1, 2022. The bill provides that if Coal Employment and Production Incentive tax credits were earned prior to January 1, 2022, the credit holder may claim the credits in subsequent tax years pursuant to the applicable carryover requirements of current law; however, such credit holders would be limited to claiming $1 million in carryover credits per taxable year. The bill directs the Department of Mines, Minerals and Energy to convene a stakeholder process to report by December 1, 2021, on recommendations for how the Commonwealth can provide economic transition support to the coalfield region. This bill is identical to HB 1899. (Less)

  • Bill History

  • 01/12/2021 - Senate: Prefiled and ordered printed; offered 01/13/21 21100972D
  • 01/12/2021 - Senate: Referred to Committee on Finance and Appropriations
  • 01/22/2021 - Senate: Impact statement from TAX (SB1252)
  • 01/26/2021 - House: House subcommittee amendments and substitutes offered
  • 02/02/2021 - Senate: Senate committee, floor amendments and substitutes offered
  • 02/02/2021 - Senate: Reported from Finance and Appropriations with substitute (13-Y 2-N 1-A)
  • 02/02/2021 - Senate: Committee substitute printed 21104311D-S1
  • 02/03/2021 - Senate: Constitutional reading dispensed (37-Y 0-N)
  • 02/04/2021 - Senate: Read second time
  • 02/04/2021 - Senate: Reading of substitute waived
  • 02/04/2021 - Senate: Committee substitute agreed to 21104311D-S1
  • 02/04/2021 - Senate: Engrossed by Senate - committee substitute SB1252S1
  • 02/05/2021 - Senate: Read third time and passed Senate (22-Y 17-N)   Close Floor Vote
  • 02/07/2021 - House: Placed on Calendar
  • 02/07/2021 - House: Read first time
  • 02/07/2021 - House: Referred to Committee on Finance
  • 02/08/2021 - House: Continued to Special Session 1 in Finance
  • 02/09/2021 - Senate: Impact statement from TAX (SB1252S1)
  • 02/10/2021 - House: Reported from Finance (13-Y 9-N)
  • 02/12/2021 - House: Read second time
  • 02/15/2021 - House: Read third time
  • 02/15/2021 - House: Passed House (55-Y 45-N)
  • 02/15/2021 - House: VOTE: Passage (55-Y 45-N)   Close Floor Vote
  • 02/17/2021 - Senate: Enrolled
  • 02/17/2021 - Senate: Bill text as passed Senate and House (SB1252ER)
  • 02/17/2021 - Senate: Signed by President
  • 02/18/2021 - House: Signed by Speaker
  • 02/22/2021 - Senate: Enrolled Bill Communicated to Governor on February 22, 2021
  • 02/22/2021 - Governor: Governor's Action Deadline 11:59 p.m., March 31, 2021
  • 02/24/2021 - Senate: Impact statement from TAX (SB1252ER)
  • 03/31/2021 - Senate: Governor's recommendation received by Senate
  • 04/07/2021 - Senate: Senate rejected Governor's recommendation (14-Y 26-N)   Close Floor Vote
  • 04/07/2021 - Senate: Communicated to Governor
  • 04/07/2021 - Governor: Governor's Action Deadline 11:59 p.m., May 7, 2021
  • 04/15/2021 - Governor: Approved by Governor-Chapter 554 (effective 7/1/21)
  • 04/15/2021 - Governor: Acts of Assembly Chapter text (CHAP0554)

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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