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2002 SESSION
HB 685 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, the bill would reduce the threshold amount to 20.
FULL TEXT
HISTORY
- 01/09/02 House: Presented & ordered printed, prefiled 01/09/02 024096610
- 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)