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ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1995 SESSION
HB 2575 Coal industry tax credits.
Introduced by: Jackie T. Stump | all patrons ... notes | add to my profiles
SUMMARY:
Coal employment enhancement tax credit. Provides a choice of tax credits for the coal industry based on the seam size for underground mining, and a smaller tax credit for surface mining. A tax credit is also provided for coalbed methane gas production. Taxpayers begin to accrue the credit for tax years beginning on and after January 1, 1996, and may take the credit on their tax returns beginning January 1, 1999, but only one year of credits is allowed annually. Taxpayers may take only one of the credits. The tax credits may be redeemable by the Tax Commissioner for 95 percent of their face value, or may be transferred by sale if the Tax Commissioner does not redeem the tax credits. No credit may be taken unless general fund revenue in fiscal year 1997-98 exceeds the official estimate of general fund revenue by at least the cost of the credits. The bill also creates a tax credit of three dollars per ton of coal mined in Virginia purchased by steam producers. The new tax credits expire in 2001. The sunset date for the cogenerators tax credit (§ 58.1-433) is extended until 2001. The measure also directs the Virginia Port Authority to study the effect of the tax credit on the Ports of Hampton Roads.
FULL TEXT
- 01/23/95 House: Presented & ordered printed LD4828176 pdf
- 02/03/95 House: Committee substitute printed LD3814460-H1 pdf
- 02/06/95 House: Floor substitute printed LD9747460-H2 (Stump) pdf
- 02/15/95 Senate: Committee substitute printed LD3271605-S1 pdf
- 03/01/95 House: Bill text as passed House and Senate (HB2575ER) pdf
- 04/11/95 House: Reenrolled bill text (HB2575ER) pdf
- 04/17/95 Governor: Acts of Assembly Chapter text (CHAP0775) pdf
AMENDMENTS
HISTORY
- 01/23/95 House: Presented & ordered printed LD4828176
- 01/23/95 House: Referred to Committee on Finance
- 01/26/95 House: Assigned to Finance sub-committee: 1
- 02/03/95 House: Reported from Finance with sub. (21-Y 0-N)
- 02/03/95 House: Committee substitute printed LD3814460-H1
- 02/04/95 House: Read first time
- 02/05/95 House: Passed by for the day
- 02/06/95 House: Read second time
- 02/06/95 House: Committee substitute rejected LD3814460-H1
- 02/06/95 House: Floor substitute agreed to LD9747460-H2 (Stump)
- 02/06/95 House: Floor substitute printed LD9747460-H2 (Stump)
- 02/06/95 House: Engrossed by House - fl. sub. LD9747460-H2 (Stump)
- 02/07/95 House: Read third time and passed House (98-Y 0-N)
- 02/07/95 House: VOTE: PASSAGE (98-Y 0-N)
- 02/07/95 House: Communicated to Senate
- 02/07/95 Senate: Read first time
- 02/07/95 Senate: Referred to Committee on Finance
- 02/15/95 Senate: Reported from Finance with substitute (14-Y 0-N)
- 02/15/95 Senate: Committee substitute printed LD3271605-S1
- 02/16/95 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/16/95 Senate: VOTE: CONST. READING DISPENSED (38-Y 0-N)
- 02/17/95 Senate: Read third time
- 02/17/95 Senate: Reading of substitute waived
- 02/17/95 Senate: Committee substitute agreed to LD3271605-S1
- 02/17/95 Senate: Engrossed by Senate - comm. sub. LD3271605-S1
- 02/17/95 Senate: Passed Senate with substitute (39-Y 0-N)
- 02/17/95 Senate: VOTE: PASSAGE (39-Y 0-N)
- 02/20/95 House: Placed on Calendar
- 02/21/95 House: Senate substitute agreed to by House (99-Y 0-N)
- 02/21/95 House: VOTE: ADOPTION (99-Y 0-N)
- 03/01/95 House: Bill text as passed House and Senate (HB2575ER)
- 03/07/95 House: Enrolled
- 03/08/95 House: Signed by Speaker
- 03/10/95 Senate: Signed by President
- 03/27/95 House: Governor's recommendation received by House
- 04/06/95 House: House concurred in Gov's recommendation (98-Y 0-N)
- 04/06/95 House: VOTE: ADOPTION (98-Y 0-N)
- 04/06/95 Senate: Senate concurred in Gov's recommendation (36-Y 0-N)
- 04/06/95 Senate: VOTE: ADOPT GOV. RECOMMEND. (36-Y 0-N)
- 04/06/95 Governor: Governor's recommendation adopted
- 04/06/95 House: Reenrolled
- 04/06/95 House: Signed by Speaker as reenrolled
- 04/06/95 Senate: Signed by President as reenrolled
- 04/06/95 House: Enacted, Chapter 775 (effective 7/1/95)
- 04/11/95 House: Reenrolled bill text (HB2575ER)
- 04/17/95 Governor: Acts of Assembly Chapter text (CHAP0775)