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1998 SESSION

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SB 706 Shipbuilding industry tax credit.

Introduced by: Kenneth W. Stolle | all patrons    ...    notes | add to my profiles

SUMMARY:

Shipbuilding industry tax credit. Creates a credit against employee income tax withholding payments for contributions by a qualified shipbuilder for a certified carrier platform integration center. A qualified shipbuilder is a corporation that employs more than 10,000 persons in Virginia and invests at least $50 million in a shipbuilding facility in Virginia in the preceding year. The credit may be taken against withholding taxes on wages earned between July 1, 1998, and December 31, 2003. The credits shall not exceed $30 million in any year and $140 million in the aggregate.

FULL TEXT

• 01/26/98  Senate: Presented & ordered printed 985392739  pdf

HISTORY

• 01/26/98  Senate: Presented & ordered printed 985392739
• 01/26/98  Senate: Referred to Committee on Finance
• 02/11/98  Senate: Failed to report (defeated) in Finance by voice vote