VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

2010 SESSION

• | print version

SB 472 Major business facility job tax credit; reduces number of qualified full-time jobs required.

Introduced by: John C. Watkins | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Major business facility job tax credit.  Amends the Major Business Facility Job Tax Credit. Current law provides a $1,000 tax credit for major business facilities that create at least 100 qualified full-time jobs. The legislation reduces the number of qualified full-time jobs required to be created to 50. In enterprise zones or economically distressed areas, the base or threshold is lowered from 50 newly created jobs to 25. The changes also allow the credit to be taken over a two-year period for taxable years beginning January 1, 2009, through December 31, 2012, rather than December 31, 2010.

FULL TEXT

• 01/13/10  Senate: Prefiled and ordered printed; offered 01/13/10 10102435D  pdf | impact statement
• 02/03/10  Senate: Committee substitute printed 10105022D-S1  pdf | impact statement
• 03/01/10  House: Committee substitute printed 10105626D-H1  pdf
• 03/11/10  Senate: Bill text as passed Senate and House (SB472ER)  pdf | impact statement
• 04/11/10  Governor: Acts of Assembly Chapter text (CHAP0469)  pdf

HISTORY

• 01/13/10  Senate: Prefiled and ordered printed; offered 01/13/10 10102435D
• 01/13/10  Senate: Referred to Committee on Finance
• 02/03/10  Senate: Committee substitute printed 10105022D-S1
• 02/03/10  Senate: Reported from Finance with substitute (15-Y 0-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 10105022D-S1
• 02/08/10  Senate: Engrossed by Senate - committee substitute SB472S1
• 02/09/10  Senate: Read third time and passed Senate (40-Y 0-N)
• 02/17/10  House: Placed on Calendar
• 02/17/10  House: Read first time
• 02/17/10  House: Referred to Committee on Appropriations
• 02/23/10  House: Assigned App. sub: Economic Development, Agriculture and Natural Resources
• 02/26/10  House: Subcommittee recommends reporting with amendment(s) (7-Y 0-N)
• 03/01/10  House: Reported from Appropriations with substitute (22-Y 0-N)
• 03/01/10  House: Committee substitute printed 10105626D-H1
• 03/03/10  House: Read second time
• 03/03/10  House: Constitutional reading dispensed (97-Y 0-N)
• 03/03/10  House: VOTE: --- AGREE TO MOTION (97-Y 0-N)
• 03/03/10  House: Committee substitute agreed to 10105626D-H1
• 03/03/10  House: Engrossed by House - committee substitute SB472H1
• 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 (39-Y 0-N)
• 03/03/10  Senate: Title replaced 10105626D-S1
• 03/11/10  Senate: Enrolled
• 03/11/10  Senate: Bill text as passed Senate and House (SB472ER)
• 03/11/10  House: Signed by Speaker
• 03/13/10  Senate: Signed by President
• 04/11/10  Governor: Approved by Governor-Chapter 469 (effective - see bill)
• 04/11/10  Governor: Acts of Assembly Chapter text (CHAP0469)