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2002 SESSION

• | print version

HB 684 Major business facility job tax credit; reduction in threshold amount.

Introduced by: Kristen J. Amundson | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Major business facility job tax credit; reduction in threshold amount. Reduces the threshold amount of qualified full-time jobs under § 58.1-439. To qualify for the major business facility job tax credit under § 58.1-439, the newly established or expanding company generally must create at least 100 new full-time jobs. For taxable years beginning on and after January 1, 2002, the bill would reduce this threshold amount to 50; if the company is located in an economically distressed area or in an enterprise zone, the bill would further reduce the threshold amount to 25; and if the company is engaged in providing information technology services that locate within an urban area that the local governing body has designated by ordinance as an area needing revitalization, the threshold amount is reduced to 20.

FULL TEXT

• 01/09/02  House: Presented & ordered printed, prefiled 01/09/02 024095610  pdf | impact statement

HISTORY

• 01/09/02  House: Presented & ordered printed, prefiled 01/09/02 024095610
• 01/09/02  House: Referred to Committee on Finance
• 01/21/02  House: Assigned to Finance sub-committee: 2
• 01/21/02  House: Continued to 2003 in Finance (21-Y 0-N)