SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2013 SESSION

  • | print version

HB 1824 Virginia port volume; increase tax credit to certain entities, clarifies definitions.

Introduced by: Harry R. Purkey | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Virginia port volume increase tax credit. Extends the tax credit beginning in 2013 to growers or producers of (i) wheat, grains, fruits, nuts, crops; (ii) tobacco, nursery, or floral products; (iii) forestry products excluding raw wood fiber or wood fiber processed or manufactured for use as fuel for the generation of electricity; or (iv) seafood, meat, dairy, or poultry products. Under current law, manufacturers and distributors of manufactured goods that ship at least 75 net tons of noncontainerized cargo or 10 loaded 20-foot equivalent units (TEUs) through Virginia port facilities during a calendar year are eligible for an income tax credit if their volume of shipments through such facilities increases by at least five percent over a designated base year volume. The tax credit equals $50 for each TEU above the base year volume shipped through a Virginia port facility.


FULL TEXT

AMENDMENTS

HISTORY