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2004 SESSION

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HB 757 Income tax, corporate; Tiered Incentive Program created to provide tax cred. in dis. local., report.

Introduced by: Robert Hurt | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; Virginia Tiered Incentive Program. Establishes a program for providing corporate income tax credits for creation of jobs in economically distressed localities, which are divided into three tiers. The amount of the credit will be based on factors such as median household income and rates of unemployment within the three tiers. The Tax Commissioner shall promulgate regulations that are necessary or desirable to carry out the provisions of the act. This bill is a recommendation of the Rural Virginia Prosperity Commission.

FULL TEXT

• 01/14/04  House: Presented & ordered printed, prefiled 01/14/04 047123340  pdf | impact statement

HISTORY

• 01/14/04  House: Presented & ordered printed, prefiled 01/14/04 047123340
• 01/14/04  House: Referred to Committee on Finance
• 01/15/04  House: Assigned to Finance sub-committee: 2
• 02/11/04  House: Tabled in Finance (21-Y 0-N)