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2010 SESSION
HB 764 Income tax credits; landlords participating in housing choice voucher programs.
Introduced by: Jennifer L. McClellan | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Income tax credits; landlords participating in housing choice voucher programs. Establishes an individual and corporate income tax credit beginning with the 2010 taxable year for landlords who participate in a housing choice voucher program. Eligible landlords would receive a tax credit equal to 10 percent of the fair market value of the rent for each qualified housing unit. Qualified housing units would be dwelling units located in a census tract in the Richmond Metropolitan Statistical Area in which less than 10 percent of the residents live below the poverty level.
The Department of Housing and Community Development would administer the tax credit. The Department would not be allowed to issue more than $450,000 in tax credits in any fiscal year. Tax credits would be allowed only for that portion of the taxable year in which a dwelling unit was included in a housing choice voucher program. The bill provides a five-year carryforward period for unused tax credits.
FULL TEXT
- 01/12/10 House: Prefiled and ordered printed; offered 01/13/10 10103923D pdf | impact statement
- 02/15/10 House: Printed as engrossed 10103923D-E pdf | impact statement
- 03/10/10 House: Bill text as passed House and Senate (HB764ER) pdf | impact statement
- 04/11/10 Governor: Acts of Assembly Chapter text (CHAP0520) pdf
AMENDMENTS
HISTORY
- 01/12/10 House: Prefiled and ordered printed; offered 01/13/10 10103923D
- 01/12/10 House: Referred to Committee on Finance
- 01/25/10 House: Assigned Finance sub: #3
- 02/09/10 House: Subcommittee recommends reporting with amendment(s) (4-Y 0-N)
- 02/10/10 House: Reported from Finance with amendments (18-Y 4-N)
- 02/12/10 House: Read first time
- 02/15/10 House: Read second time
- 02/15/10 House: Committee amendments 1, 2, 3 and 4 agreed to
- 02/15/10 House: Committee amendment #5 rejected
- 02/15/10 House: Committee amendment #5 reconsidered
- 02/15/10 House: Committee amendment #5 agreed to
- 02/15/10 House: Amendment by Delegate McClellan withdrawn
- 02/15/10 House: Engrossed by House as amended HB764E
- 02/15/10 House: Printed as engrossed 10103923D-E
- 02/16/10 House: Read third time and passed House (94-Y 4-N)
- 02/16/10 House: VOTE: --- PASSAGE (94-Y 4-N)
- 02/17/10 Senate: Constitutional reading dispensed
- 02/17/10 Senate: Referred to Committee on General Laws and Technology
- 02/24/10 Senate: Rereferred from General Laws and Technology (13-Y 0-N)
- 02/24/10 Senate: Rereferred to Finance
- 03/02/10 Senate: Reported from Finance with amendment (15-Y 0-N)
- 03/03/10 Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/03/10 Senate: Read third time
- 03/03/10 Senate: Reading of amendment waived
- 03/03/10 Senate: Committee amendment agreed to
- 03/03/10 Senate: Engrossed by Senate as amended
- 03/03/10 Senate: Passed Senate with amendment (39-Y 0-N)
- 03/03/10 Senate: Reconsideration of Senate passage agreed to by Senate (40-Y 0-N)
- 03/03/10 Senate: Passed Senate with amendment (40-Y 0-N)
- 03/03/10 House: Senate amendment agreed to by House (93-Y 3-N)
- 03/03/10 House: VOTE: --- ADOPTION (93-Y 3-N)
- 03/10/10 House: Enrolled
- 03/10/10 House: Bill text as passed House and Senate (HB764ER)
- 03/11/10 House: Signed by Speaker
- 03/13/10 Senate: Signed by President
- 04/11/10 Governor: Approved by Governor-Chapter 520 (effective 7/1/10)
- 04/11/10 Governor: Acts of Assembly Chapter text (CHAP0520)