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ACROSS SESSIONS
- Subject Index: Since 1995
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Developed and maintained by the Division of Legislative Automated Systems.
2014 SESSION
Co-Chair: Charles J. Colgan - Co-Chair: Walter A. Stosch
Clerk: Patty Lung, Wesley Bland
Date of Meeting: February 18, 2014
Time and Place: 9:00 a.m. - Senate Room B
Revised to add HB 876
Patron: Lingamfelter
Unlawful dissemination or publication of tax information. Changes the unlawful dissemination or publication of tax information from a Class 2 to a Class 1 misdemeanor.
Patron: Toscano
Disclosure of certain tax information. Requires the Department of Taxation to disclose the total aggregate amount of an income tax deduction or credit taken by all taxpayers, regardless of how few the number of taxpayers, upon request by the General Assembly or any duly constituted committee of the General Assembly. Under current practice the Department of Taxation does not disclose such information if fewer than four taxpayers took the deduction or credit.
Patron: O'Bannon
Deferred compensation plan for Medicaid program independent contractors. Authorizes the Director of the Department of Medical Assistance Services to provide payments or transfers to the Virginia Retirement System's deferred compensation plan for dentists or oral and maxillofacial surgeons who are independent contractors providing services for the Commonwealth's Medicaid program.
Patron: Minchew
Real property tax exemption for religious bodies. Clarifies the meaning of real property used exclusively for religious worship for determining the real property tax exemption for religious bodies.
Patron: O'Bannon
Neighborhood Assistance tax credits; percentage increase. Increases the percentage of persons served by a neighborhood organization and who are low-income, as defined in § 58.1-439.18, from 40% to 50%, for purposes of applying to the Department of Social Services for an allocation of neighborhood assistance tax credits for use by business firms making donations to the neighborhood organization.
Patron: Jones
Bonds; capital projects at institutions of higher learning. Authorizes the Treasury Board to issue bonds pursuant to Article X, Section 9 (c) of the Constitution of Virginia in an amount up to $245,020,705 plus financing costs to finance revenue-producing capital projects at institutions of higher learning. The bill contains an emergency clause.
EMERGENCY
Patron: Jones
Virginia Port Authority Board of Commissioners. Changes the composition of the Board of Commissioners of the Virginia Port Authority and provides for removal of Board members by the Governor for malfeasance, misfeasance, incompetence, or gross neglect of duty.
Patron: Wilt
Sales and use tax; exemption for school supplies and clothing. Modifies the "back to school" sales tax exemption for certain items for three days in August by (i) decreasing the maximum sales price of each item of clothing and footwear eligible for the exemption from $100 to $65, and (ii) adding computers with a sales price of $500 or less.
Patron: Comstock
Research and development expenses tax credit. Increases beginning with taxable year 2014 the amount of the credit allowed from 15 percent of the first $167,000 to 15 percent of the first $234,000 of Virginia qualified research and development expenses, and from 20 percent of the first $175,000 to 20 percent of the first $234,000 of Virginia qualified research and development expenses conducted in conjunction with a Virginia institution of higher education. The bill increases the maximum annual amount of tax credits that may be issued each fiscal year from $5 million to $6 million. The bill allows a pass-through entity to elect to receive and claim any credit at the pass-through entity level in lieu of the credit being allocated to the individual partners, members, or shareholders of the pass-through entity. Finally, the bill requires any taxpayer applying for the credit to provide information to the Department of Taxation relating to the number of full-time employees of the taxpayer; the taxpayer's industry sector; the area, discipline, or field of Virginia qualified research performed by the taxpayer; the taxpayer's total gross receipts for the relevant taxable year; and whether the qualified research was performed in conjunction with a Virginia institution of higher education. Further, regardless of how few taxpayers take the credit, the Department, upon request by the General Assembly or any duly constituted committee of the General Assembly, must disclose the total aggregate amount of credits under § 58.1-439.12:08 taken by all taxpayers.
Patron: Hugo
Real and personal property tax exemption; solar energy equipment, facilities, or devices. Exempts from real and personal property tax, business owned or operated solar energy equipment, facilities, or devices that collect, generate, transfer, or store thermal or electric energy.