SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1996 SESSION
HB 1498 Capital Company Act; created to promote business expansion.
Introduced by: James M. Scott | all patrons ... notes | add to my profiles
SUMMARY:
The Virginia Capital Company Act. Creates the Virginia Capital Company Act to promote the development of investment capital for the purpose of encouraging and assisting in the creation, development or expansion of businesses in the Commonwealth. The Act provides a tax credit for qualified taxpayers in an amount equal to 50 percent of an investment in a qualified Virginia capital company. The total amount of tax credits authorized for a single qualified Virginia capital company may not exceed $2.5 million. The total amount of tax credits available for all qualified Virginia capital companies may not exceed $25 million.