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1995 SESSION

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HB 2517 Business facility job tax credits.

Introduced by: R. Creigh Deeds | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia business facility tax credit. Allows enterprises engaged in any type of business to qualify for major business facility job tax credits. The job tax credit program provides firms that create new full-time jobs with a tax credit of $1,000 for each new full-time job in excess of 50. The credit is also available for creation of 25 jobs or more in economically distressed areas. Currently the tax credits are available only to firms primarily engaged in the business of manufacturing, mining, agriculture, forestry, fishing, transportation, or communications, and to certain public utilities. Tax credits are also currently available to an enterprise for specific activities, including administrative offices, research, development and testing laboratories, computer-related services, and financial, insurance and real estate services, without regard to the enterprise's primary type of business.

FULL TEXT

• 01/23/95  House: Presented & ordered printed LD4861176  pdf

HISTORY

• 01/23/95  House: Presented & ordered printed LD4861176
• 01/23/95  House: Referred to Committee on Finance
• 01/26/95  House: Assigned to Finance sub-committee: 1
• 02/08/95  House: No action taken by Finance by voice vote