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1997 SESSION

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HB 2645 Capital Formation Act.

Introduced by: James M. Scott | all patrons    ...    notes | add to my profiles

SUMMARY:

Virginia Capital Formation Act. Creates the Virginia Capital Formation 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 $20 million.

FULL TEXT

• 01/20/97  House: Presented & ordered printed 976199443  pdf

HISTORY

• 01/20/97  House: Presented & ordered printed 976199443
• 01/20/97  House: Referred to Committee on Corporations, Insurance and Banking
• 01/30/97  House: Reported from Corp., Ins. & Banking (22-Y 0-N)
• 01/30/97  House: Referred to Committee on Finance
• 02/04/97  House: No action taken by Finance by voice vote