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- Subject Index: Since 1995
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2016 SESSION
SB 44 Coal tax; limits aggregate amount of credits that may be allocated or claimed for employment, etc.
Introduced by: Charles W. Carrico, Sr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Coal tax credits. Limits the aggregate amount of credits that may be allocated or claimed for the coal employment and production incentive tax credit to $7.3 million in each fiscal year. An electricity generator must file an application with the Department of Taxation each year to determine the amount of credits that it may claim or allocate, including credits earned in prior taxable years. If the total amount of approved applications for tax credits for the fiscal year exceeds $7.3 million, the Department of Taxation shall apportion the credits on a pro rata basis. The bill also extends the sunset date of the coalfield employment enhancement tax credit through taxable years beginning before January 1, 2022. This bill incorporates SB 718, and is identical to HB 298.
FULL TEXT
- 12/15/15 Senate: Prefiled and ordered printed; offered 01/13/16 16101723D pdf | impact statement
- 02/10/16 Senate: Committee substitute printed 16105340D-S1 pdf | impact statement
- 02/29/16 Senate: Bill text as passed Senate and House (SB44ER) pdf | impact statement
AMENDMENTS
HISTORY
- 12/15/15 Senate: Prefiled and ordered printed; offered 01/13/16 16101723D
- 12/15/15 Senate: Referred to Committee on Finance
- 02/10/16 Senate: Reported from Finance with substitute (14-Y 1-N)
- 02/10/16 Senate: Committee substitute printed 16105340D-S1
- 02/10/16 Senate: Incorporates SB718
- 02/11/16 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/12/16 Senate: Read second time
- 02/12/16 Senate: Reading of substitute waived
- 02/12/16 Senate: Committee substitute agreed to 16105340D-S1
- 02/12/16 Senate: Engrossed by Senate - committee substitute SB44S1
- 02/12/16 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/12/16 Senate: Passed by for the day
- 02/15/16 Senate: Passed by temporarily
- 02/15/16 Senate: Read third time and passed Senate (33-Y 7-N)
- 02/17/16 House: Placed on Calendar
- 02/17/16 House: Read first time
- 02/17/16 House: Referred to Committee on Finance
- 02/22/16 House: Reported from Finance with amendments (16-Y 5-N)
- 02/23/16 House: Read second time
- 02/24/16 House: Read third time
- 02/24/16 House: Committee amendments agreed to
- 02/24/16 House: Engrossed by House as amended
- 02/24/16 House: Passed House with amendments (74-Y 25-N 1-A)
- 02/24/16 House: VOTE: PASSAGE (74-Y 25-N 1-A)
- 02/26/16 Senate: House amendments agreed to by Senate (34-Y 5-N)
- 02/29/16 Senate: Enrolled
- 02/29/16 Senate: Bill text as passed Senate and House (SB44ER)
- 02/29/16 House: Signed by Speaker
- 03/03/16 Senate: Signed by President
- 03/04/16 Senate: Enrolled Bill Communicated to Governor on 3/4/16
- 03/04/16 Governor: Governor's Action Deadline Midnight, March 11, 2016
- 03/11/16 Governor: Vetoed by Governor
- 04/20/16 Senate: Passed by temporarily
- 04/20/16 Senate: Motion to pass in enriolled form rejected (24-Y 15-N)
- 04/20/16 Senate: Requires 26 affirmative votes to pass in enrolled form