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2010 SESSION
HB 523 Income tax, state; exemption for any income taxed as long-term capital gain for federal income tax.
Introduced by: Sam A. Nixon-Resigned 4/4 | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Income taxes; recognition of income from capital gains. Grants an income tax deduction for any income taxed as a long-term capital gain for federal income tax purposes or any income taxed as investment services partnership interest income, on or after January 1, 2011, that is related to a qualified investment in a technology and science start-up business having a principal office or facility in the Commonwealth and less than $3 million in annual revenues in the fiscal year prior to the investment. The deduction would relate to investments made between April 1, 2010, and June 30, 2013.
FULL TEXT
- 01/12/10 House: Prefiled and ordered printed; offered 01/13/10 10103717D pdf | impact statement
- 02/10/10 House: Committee substitute printed 10104952D-H1 pdf | impact statement
- 03/03/10 House: Bill text as passed House and Senate (HB523ER) pdf | impact statement
- 04/21/10 House: Reenrolled bill text (HB523ER2) pdf
- 04/21/10 Governor: Acts of Assembly Chapter text (CHAP0830) pdf
AMENDMENTS
HISTORY
- 01/12/10 House: Prefiled and ordered printed; offered 01/13/10 10103717D
- 01/12/10 House: Referred to Committee on Finance
- 01/19/10 House: Assigned Finance sub: #2
- 02/03/10 House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N)
- 02/10/10 House: Reported from Finance with substitute (21-Y 1-N)
- 02/10/10 House: Committee substitute printed 10104952D-H1
- 02/12/10 House: Read first time
- 02/15/10 House: Read second time
- 02/15/10 House: Committee substitute agreed to 10104952D-H1
- 02/15/10 House: Engrossed by House - committee substitute HB523H1
- 02/16/10 House: Read third time and passed House (97-Y 2-N)
- 02/16/10 House: VOTE: --- PASSAGE (97-Y 2-N)
- 02/17/10 Senate: Constitutional reading dispensed
- 02/17/10 Senate: Referred to Committee on Finance
- 02/23/10 Senate: Reported from Finance (15-Y 0-N)
- 02/24/10 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/25/10 Senate: Read third time
- 02/25/10 Senate: Passed Senate (40-Y 0-N)
- 03/03/10 House: Enrolled
- 03/03/10 House: Bill text as passed House and Senate (HB523ER)
- 03/03/10 House: Signed by Speaker
- 03/06/10 Senate: Signed by President
- 04/13/10 House: Governor's recommendation received by House
- 04/20/10 House: Placed on Calendar
- 04/21/10 House: House concurred in Governor's recommendation (95-Y 0-N)
- 04/21/10 House: VOTE: --- ADOPTION (95-Y 0-N)
- 04/21/10 Senate: Senate concurred in Governor's recommendation (39-Y 0-N)
- 04/21/10 Governor: Governor's recommendation adopted
- 04/21/10 House: Reenrolled
- 04/21/10 House: Reenrolled bill text (HB523ER2)
- 04/21/10 House: Signed by Speaker as reenrolled
- 04/21/10 Senate: Signed by President as reenrolled
- 04/21/10 House: Enacted, Chapter 830 (effective 7/1/10)
- 04/21/10 Governor: Acts of Assembly Chapter text (CHAP0830)