2011 SESSION

Convened January 12, 2011 -

CORPORATIONS

(P) Passed (F) Failed (V) Vetoed (I) Incoporated into other legislation

(C) Carried over from 2010 Session (CD) Carried over but died in committee on or before 12/2/2010

Automobile clubs; exempts an entity from licensing and other requirements under certain conditions. Adding § 13.1-400.10. (Patron-Wampler, SB 1387 (Chapter 298))

Automobile clubs; shall not include services offered or provided through a telematics system. Amending § 13.1-400.1. (Patron-Wampler, SB 674 (CD))

Benefit corporations; definition, requirements. Adding §§ 13.1-782 through 13.1-791. (Patron-McClellan, HB 2358 (Chapter 698))

Education Improvement Scholarships; tax credit for donations by business entities. Amending § 58.1-402; adding §§ 58.1-439.25 through 58.1-439.28. (Patron-Massie, HB 2314 (F))

Higher Education for Virginia, State Council of; creation of nonstock corporation to support academic research. Adding § 23-9.6:3. (Patron-Nutter, HB 2250 (I) See HB2324)

Immunity of officers, etc., of nonprofit organizations; shall survive termination, cancellation, or discontinuance of corporation. Amending §§ 8.01-220.1:1, 13.1-870.1, and 13.1-870.2. (Patron-Filler-Corn, HB 1877 (Chapter 693); Petersen, SB 841 (Chapter 704))

Income tax, corporate; eliminates State’s tax for taxable years beginning on and after January 1, 2011. Repealing §§ 58.1-400 through 58.1-422, 58.1-432 through 58.1-439.12:02, and 58.1-500 through 58.1-504. (Patron-Cline, HB 2151 (F); Obenshain, SB 1403 (F))

Income tax, corporate; lower rate for certain businesses. Amending § 58.1-400. (Patron-Stuart, SB 998 (F))

Income tax, corporate; market-based sourcing. Amending § 58.1-416. (Patron-Albo, HB 1604 (F); Watkins, SB 1006 (F))

Income tax, corporate; reduces rate from 6 percent to 5.75 percent. Amending § 58.1-400. (Patron-Cline, HB 860 (CD))

Income tax, corporate; reduction of rate for up to three years for certain small businesses. Amending § 58.1-400. (Patron-Bell, Richard P., HB 94 (CD); Bell, Richard P., HB 1410 (F))

Income tax, corporate; renewable energy products tax credit. Adding § 58.1-439.12:03. (Patron-Nutter, HB 998 (CD); Ruff, SB 657 (CD))

Income tax, corporate; subcontracts tax credit. Adding § 58.1-400.4. (Patron-Nutter, HB 2400 (F))

Income tax, corporate; tax credit for travel expenses reimbursement. Adding § 58.1-439.12:06. (Patron-Poindexter, HB 2056 (F))

Income tax, corporate; tax credit to employers that provide employee transportation assistance. Adding § 58.1-439.12:06. (Patron-McClellan, HB 2360 (F); McEachin, SB 1313 (F))

Income tax, corporate; tax credit to taxpayers engaged in manufacturing goods or distribution of manufactured goods that use Virginia port facilities, etc. Adding § 58.1-439.12:06. (Patron-Wagner, SB 1481 (Chapter 872))

Income tax, corporate; tax credits for donations to nonprofit organizations providing educational scholarships. Adding §§ 58.1-439.25 through 58.1-439.28. (Patron-Obenshain, SB 1194 (F))

Income tax, corporate; telework expenses tax credit. Adding § 58.1-439.12:06. (Patron-Comstock, HB 2197 (Chapter 409); Herring, SB 1335 (Chapter 417))

Income tax, corporate; Virginia port volume increase tax credit. Adding § 58.1-439.12:06. (Patron-Purkey, HB 2531 (Chapter 831))

Income tax, state and corporate; credit for electric energy facility producing electricity primarily from agricultural livestock waste nutrients. Adding § 58.1-439.12:03. (Patron-Gilbert, HB 1341 (CD); Hanger, SB 678 (CD))

Income tax, state and corporate; tax credit for facilities using agricultural livestock waste nutrients to produce electricity. Adding § 58.1-439.12:06. (Patron-Hanger, SB 1101 (F))

Income tax, state and corporate; tax credit to taxpayers for granting easements to recreation authority. Adding § 58.1-439.12:03. (Patron-Morefield, HB 845 (CD))

Limited liability companies; derivative actions. Amending § 13.1-1042. (Patron-Stosch, SB 1356 (Chapter 379))

Low-profit limited liability companies; definition. Amending §§ 13.1-1002, 13.1-1008, 13.1-1011, 13.1-1012, and 13.1-1050.3. (Patron-McClellan, HB 261 (CD))

Nonpublic school students; any nonprofit corporation to organize and govern interscholastic activities allowing eligibility for participation. Adding § 22.1-7.1. (Patron-Nutter, HB 2258 (I) See HB2395)

State and local government entities; places limits on authority over charitable organizations that are nonstock corporations granted tax-exempt status under Internal Revenue Code. (Patron-Vogel, SB 1483 (Chapter 873))

Water or sewer companies, small; those serving more than 25 customers to incorporate as public service company. Amending § 13.1-620. (Patron-Lingamfelter, HB 484 (CD))