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2010 SESSION
SB 428 Income tax, state; exemption for any income taxed as long-term capital gain for federal income tax.
Introduced by: Mark R. Herring | 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 July 1, 2010, and June 30, 2013. The bill contains an emergency clause.
FULL TEXT
- 01/13/10 Senate: Prefiled and ordered printed; offered 01/13/10 10103716D pdf | impact statement
- 02/03/10 Senate: Committee substitute printed 10104730D-S1 pdf | impact statement
- 03/03/10 House: Floor substitute printed 10105812D-H1 (Nixon) pdf
- 03/11/10 Senate: Bill text as passed Senate and House (SB428ER) pdf | impact statement
- 04/21/10 Senate: Reenrolled bill text (SB428ER2) pdf
- 04/21/10 Governor: Acts of Assembly Chapter text (CHAP0802) pdf
AMENDMENTS
HISTORY
- 01/13/10 Senate: Prefiled and ordered printed; offered 01/13/10 10103716D
- 01/13/10 Senate: Referred to Committee on Finance
- 02/03/10 Senate: Committee substitute printed 10104730D-S1
- 02/03/10 Senate: Reported from Finance with substitute (14-Y 1-N)
- 02/04/10 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/08/10 Senate: Read second time
- 02/08/10 Senate: Reading of substitute waived
- 02/08/10 Senate: Committee substitute agreed to 10104730D-S1
- 02/08/10 Senate: Engrossed by Senate - committee substitute SB428S1
- 02/09/10 Senate: Read third time and passed Senate (40-Y 0-N)
- 02/16/10 House: Placed on Calendar
- 02/16/10 House: Read first time
- 02/16/10 House: Referred to Committee on Finance
- 02/17/10 House: Assigned Finance sub: #2
- 02/24/10 House: Subcommittee recommends reporting with amendment(s) (10-Y 0-N)
- 03/01/10 House: Reported from Finance with amendment (22-Y 0-N)
- 03/02/10 House: Read second time
- 03/03/10 House: Read third time
- 03/03/10 House: Committee amendment rejected
- 03/03/10 House: Floor substitute printed 10105812D-H1 (Nixon)
- 03/03/10 House: Substitute by Delegate Nixon agreed to 10105812D-H1
- 03/03/10 House: Amendment by Delegate Sickles rejected (36-Y 63-N)
- 03/03/10 House: VOTE: --- ADOPTION (36-Y 63-N)
- 03/03/10 House: Engrossed by House - floor substitute SB428H1
- 03/03/10 House: Passed House with substitute (99-Y 0-N)
- 03/03/10 House: VOTE: --- PASSAGE (99-Y 0-N)
- 03/03/10 Senate: House substitute agreed to by Senate (36-Y 2-N)
- 03/03/10 Senate: Title replaced 10105812D-H1
- 03/11/10 Senate: Enrolled
- 03/11/10 Senate: Bill text as passed Senate and House (SB428ER)
- 03/11/10 House: Signed by Speaker
- 03/13/10 Senate: Signed by President
- 04/13/10 Senate: Governor's recommendation received by Senate
- 04/20/10 Senate: Placed on Calendar
- 04/21/10 Senate: Senate concurred in Governor's recommendation (40-Y 0-N)
- 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 Governor: Emergency clause added by Governor's recommendation
- 04/21/10 Governor: Governor's recommendation adopted
- 04/21/10 House: Reenrolled
- 04/21/10 Senate: Reenrolled bill text (SB428ER2)
- 04/21/10 House: Signed by Speaker as reenrolled
- 04/21/10 Senate: Signed by President as reenrolled
- 04/21/10 House: Enacted, Chapter 802 (effective 4/21/10)
- 04/21/10 Governor: Acts of Assembly Chapter text (CHAP0802)