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2011 SESSION
HB 2531 Income tax, corporate; Virginia port volume increase tax credit.
Introduced by: Harry R. Purkey | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Corporate income tax; Virginia port volume increase tax credit. Provides an income tax credit to taxpayers engaged in manufacturing goods or the distribution of manufactured goods that use Virginia port facilities and increase their port cargo volume by five percent in a single year over their base year port cargo volume. The tax credit would equal $50 for each TEU above the base year port cargo volume. The five percent requirement may be waived for a taxpayer qualifying as a major facility. The total credit amount available in a calendar year is $3.2 million and each taxpayer generally would be limited to $250,000 annually. The credit would be available for taxable years beginning on and after January 1, 2011, but before January 1, 2016.
FULL TEXT
- 01/27/11 House: Presented and ordered printed 11104720D pdf | impact statement
- 02/07/11 House: Printed as engrossed 11104720D-E pdf | impact statement
- 02/15/11 Senate: Committee substitute printed 11105328D-S1 pdf
- 02/22/11 House: Bill text as passed House and Senate (HB2531ER) pdf | impact statement
- 04/06/11 House: Reenrolled bill text (HB2531ER2) pdf
- 04/06/11 Governor: Acts of Assembly Chapter text (CHAP0831) pdf
AMENDMENTS
HISTORY
- 01/27/11 House: Introduced at the request of Governor
- 01/27/11 House: Presented and ordered printed 11104720D
- 01/27/11 House: Referred to Committee on Finance
- 01/27/11 House: Assigned Finance sub: #1
- 01/31/11 House: Subcommittee recommends reporting with amendment(s) (8-Y 3-N)
- 02/02/11 House: Reported from Finance with amendments (15-Y 6-N)
- 02/04/11 House: Read first time
- 02/07/11 House: Read second time
- 02/07/11 House: Committee amendments agreed to
- 02/07/11 House: Engrossed by House as amended HB2531E
- 02/07/11 House: Printed as engrossed 11104720D-E
- 02/08/11 House: Read third time and passed House (72-Y 27-N)
- 02/08/11 House: VOTE: PASSAGE (72-Y 27-N)
- 02/09/11 Senate: Constitutional reading dispensed
- 02/09/11 Senate: Referred to Committee on Finance
- 02/15/11 Senate: Committee substitute printed 11105328D-S1
- 02/15/11 Senate: Reported from Finance with substitute (13-Y 0-N)
- 02/16/11 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/16/11 Senate: Read third time
- 02/16/11 Senate: Reading of substitute waived
- 02/16/11 Senate: Committee substitute agreed to 11104720D-S1
- 02/16/11 Senate: Engrossed by Senate - committee substitute HB2531S1
- 02/16/11 Senate: Passed Senate with substitute (38-Y 0-N)
- 02/16/11 Senate: Reconsideration of Senate passage agreed to by Senate (40-Y 0-N)
- 02/16/11 Senate: Passed Senate with substitute (40-Y 0-N)
- 02/16/11 House: Placed on Calendar
- 02/16/11 House: Senate substitute agreed to by House 11104720D-S1 (72-Y 18-N)
- 02/16/11 House: VOTE: ADOPTION (72-Y 18-N)
- 02/22/11 House: Enrolled
- 02/22/11 House: Bill text as passed House and Senate (HB2531ER)
- 02/22/11 House: Signed by Speaker
- 02/23/11 Senate: Signed by President
- 03/26/11 House: Governor's recommendation received by House
- 04/05/11 House: Placed on Calendar
- 04/06/11 House: House concurred in Governor's recommendation (73-Y 26-N)
- 04/06/11 House: VOTE: ADOPTION (73-Y 26-N)
- 04/06/11 Senate: Senate concurred in Governor's recommendation (40-Y 0-N)
- 04/06/11 Governor: Governor's recommendation adopted
- 04/06/11 House: Reenrolled
- 04/06/11 House: Reenrolled bill text (HB2531ER2)
- 04/06/11 House: Signed by Speaker as reenrolled
- 04/06/11 Senate: Signed by President as reenrolled
- 04/06/11 House: Enacted, Chapter 831 (effective 1/1/11)
- 04/06/11 Governor: Acts of Assembly Chapter text (CHAP0831)