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2011 SESSION
SB 1481 Income tax, corporate; Virginia port volume increase tax credit.
Introduced by: Frank W. Wagner | all patrons ... notes | add to my profiles
SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)
Corporate income tax; Virginia port volume increase tax credit. Provides an income tax credit to taxpayers engaged in manufacturing goods or the distribution of manufactured goods that use Virginia port facilities and increase their port cargo volume by five percent in a single year over their base year port cargo volume. The tax credit would equal $50 for each TEU above the base year port cargo volume. The five percent requirement may be waived for a taxpayer qualifying as a major facility. The total credit amount available in a calendar year is $3.2 million and each taxpayer generally would be limited to $250,000 annually. The credit would be available for taxable years beginning on and after January 1, 2011, but before January 1, 2016.
FULL TEXT
- 01/27/11 Senate: Presented and ordered printed 11104747D pdf | impact statement
- 02/04/11 Senate: Printed as engrossed 11104747D-E pdf | impact statement
- 02/14/11 House: Committee substitute printed 11105358D-H1 pdf
- 02/25/11 Senate: Bill text as passed Senate and House (SB1481ER) pdf | impact statement
- 04/06/11 Senate: Reenrolled bill text (SB1481ER2) pdf
- 04/06/11 Governor: Acts of Assembly Chapter text (CHAP0872) pdf
AMENDMENTS
HISTORY
- 01/27/11 Senate: Unanimous consent to introduce
- 01/27/11 Senate: Presented and ordered printed 11104747D
- 01/27/11 Senate: Referred to Committee on Finance
- 02/02/11 Senate: Reported from Finance with amendments (8-Y 7-N)
- 02/03/11 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/04/11 Senate: Read second time
- 02/04/11 Senate: Reading of amendments waived
- 02/04/11 Senate: Committee amendments agreed to
- 02/04/11 Senate: Engrossed by Senate as amended SB1481E
- 02/04/11 Senate: Printed as engrossed 11104747D-E
- 02/07/11 Senate: Read third time and passed Senate (35-Y 5-N)
- 02/08/11 House: Placed on Calendar
- 02/08/11 House: Read first time
- 02/08/11 House: Referred to Committee on Finance
- 02/14/11 House: Reported from Finance with substitute (20-Y 2-N)
- 02/14/11 House: Committee substitute printed 11105358D-H1
- 02/15/11 House: Read second time
- 02/16/11 House: Read third time
- 02/16/11 House: Committee substitute agreed to 11105358D-H1
- 02/16/11 House: Engrossed by House - committee substitute SB1481H1
- 02/16/11 House: Passed House with substitute (78-Y 19-N)
- 02/16/11 House: VOTE: PASSAGE (78-Y 19-N)
- 02/16/11 Senate: House substitute rejected by Senate (1-Y 39-N)
- 02/16/11 House: House insisted on substitute
- 02/16/11 House: House requested conference committee
- 02/16/11 Senate: Senate acceded to request (38-Y 0-N)
- 02/16/11 Senate: Conferees appointed by Senate
- 02/16/11 Senate: Senators: Lucas, Wagner, Hanger
- 02/16/11 House: Conferees appointed by House
- 02/16/11 House: Delegates: Purkey, Cosgrove, Howell, A.T.
- 02/21/11 Senate: Conference report agreed to by Senate (39-Y 0-N)
- 02/21/11 House: Conference report agreed to by House (84-Y 14-N)
- 02/21/11 House: VOTE: ADOPTION (84-Y 14-N)
- 02/25/11 Senate: Enrolled
- 02/25/11 Senate: Bill text as passed Senate and House (SB1481ER)
- 02/25/11 House: Signed by Speaker
- 02/25/11 Senate: Signed by President
- 03/26/11 Senate: Governor's recommendation received by Senate
- 04/05/11 Senate: Placed on Calendar
- 04/06/11 Senate: Senate concurred in Governor's recommendation (40-Y 0-N)
- 04/06/11 House: House concurred in Governor's recommendation (80-Y 18-N)
- 04/06/11 House: VOTE: ADOPTION (80-Y 18-N)
- 04/06/11 Governor: Governor's recommendation adopted
- 04/06/11 Senate: Reenrolled
- 04/06/11 Senate: Reenrolled bill text (SB1481ER2)
- 04/06/11 Senate: Signed by President as reenrolled
- 04/06/11 House: Signed by Speaker as reenrolled
- 04/06/11 House: Enacted, Chapter 872 (effective 1/1/11)
- 04/06/11 Governor: Acts of Assembly Chapter text (CHAP0872)