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2011 SESSION

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SB 733 License tax, state; credit for investment in small business investment companies.

Introduced by: Jeffrey L. McWaters | Jill Holtzman Vogel | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

State insurance license tax credit.  Provides a tax credit against the state license tax liability on certain insurance companies for investments in Virginia small business investment companies.  The tax credit will be administered by the Tax Commissioner.  The tax credit is capped at $20 million per year and may not exceed $100 million for the life of the program.  The bill has an effective date of January 1, 2011.


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