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2015 SESSION

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SB 1161 Coal tax; limits amount of credit that may be claimed for coal employment and production incentive.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Coal tax credits. Limits the aggregate amount of credits that may be allocated or claimed for the coal employment and production incentive tax credit to $7.5 million. An electricity generator must file an application with the Department of Taxation each year to determine the amount of credits that it may claim or allocate, including credits earned in prior taxable years. If the total amount of credits earned in a taxable year exceeds $7.5 million, the Department of Taxation shall apportion the credits on a pro rata basis. The bill also extends the sunset date of the coalfield employment enhancement tax credit through taxable year 2019. This bill is identical to HB 1879.


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