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2021 SESSION
SB 1252 Coal tax credits; sunset dates.
Introduced by: Jeremy S. McPike | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Sunset of coal tax credits. Sunsets the Coal Employment and Production Incentive Tax Credit and Coalfield Employment Enhancement Tax Credit after tax year 2021 and prohibits the allocation of such credits on and after January 1, 2022. The bill provides that if Coal Employment and Production Incentive Tax Credit credits were earned prior to January 1, 2022, the credit holder may claim the credits in subsequent tax years pursuant to the applicable carryover requirements of current law; however, such credit holders would be limited to claiming $1 million in carryover credits per taxable year. The bill directs the Department of Mines, Minerals and Energy to convene a stakeholder process to report by December 1, 2021 on recommendations for how the Commonwealth can provide economic transition support to the coalfield region.
FULL TEXT
- 01/12/21 Senate: Prefiled and ordered printed; offered 01/13/21 21100972D pdf | impact statement
- 02/02/21 Senate: Committee substitute printed 21104311D-S1 pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- Senate committee, floor amendments and substitutes offered
HISTORY
- 01/12/21 Senate: Prefiled and ordered printed; offered 01/13/21 21100972D
- 01/12/21 Senate: Referred to Committee on Finance and Appropriations
- 02/02/21 Senate: Reported from Finance and Appropriations with substitute (13-Y 2-N 1-A)
- 02/02/21 Senate: Committee substitute printed 21104311D-S1
- 02/03/21 Senate: Constitutional reading dispensed (37-Y 0-N)
- 02/04/21 Senate: Read second time
- 02/04/21 Senate: Reading of substitute waived
- 02/04/21 Senate: Committee substitute agreed to 21104311D-S1
- 02/04/21 Senate: Engrossed by Senate - committee substitute SB1252S1
- 02/05/21 Senate: Read third time and passed Senate (22-Y 17-N)
- 02/07/21 House: Placed on Calendar
- 02/07/21 House: Read first time
- 02/07/21 House: Referred to Committee on Finance
- 02/08/21 House: Continued to Special Session 1 in Finance by voice vote