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- Subject Index: Since 1995
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Developed and maintained by the Division of Legislative Automated Systems.
2015 SESSION
SB 904 Income tax subtraction; long-term capital gain from qualified investments.
Introduced by: Ryan T. McDougle | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Income tax subtraction for long-term capital gains; extends investment period. Extends from June 30, 2015, to June 30, 2020, the date by which investments in certain technology businesses must be made in order to claim an income tax subtraction for any long-term capital gain or investment services partnership interest income from such investments. Currently, a taxpayer investing in a technology business between April 1, 2010, and June 30, 2015, may claim an income tax subtraction for any long-term capital gain or investment services partnership interest income attributable to such investment if the business has its principal office or facility in the Commonwealth and had less than $3 million in annual revenues in the fiscal year prior to the investment. Under the bill, the Department of Taxation is required to record and, upon request, report the fiscal savings accruing to individuals and corporations claiming the subtraction. This bill is identical to HB 1741.
FULL TEXT
- 01/07/15 Senate: Prefiled and ordered printed; offered 01/14/15 15101865D pdf | impact statement
- 01/29/15 Senate: Printed as engrossed 15101865D-E pdf | impact statement
- 01/29/15 Senate: Engrossed bill reprinted 15101865D-E pdf | impact statement
- 02/17/15 Senate: Bill text as passed Senate and House (SB904ER) pdf | impact statement
- 03/19/15 Governor: Acts of Assembly Chapter text (CHAP0335) pdf
AMENDMENTS
HISTORY
- 01/07/15 Senate: Prefiled and ordered printed; offered 01/14/15 15101865D
- 01/07/15 Senate: Referred to Committee on Finance
- 01/27/15 Senate: Reported from Finance with amendments (15-Y 0-N)
- 01/28/15 Senate: Constitutional reading dispensed (38-Y 0-N)
- 01/29/15 Senate: Read second time
- 01/29/15 Senate: Reading of amendments waived
- 01/29/15 Senate: Committee amendments agreed to
- 01/29/15 Senate: Engrossed by Senate as amended SB904E
- 01/29/15 Senate: Printed as engrossed 15101865D-E
- 01/29/15 Senate: Engrossed bill reprinted 15101865D-E
- 01/30/15 Senate: Read third time and passed Senate (38-Y 0-N)
- 02/06/15 House: Placed on Calendar
- 02/06/15 House: Read first time
- 02/06/15 House: Referred to Committee on Finance
- 02/11/15 House: Reported from Finance (21-Y 0-N)
- 02/12/15 House: Read second time
- 02/13/15 House: Read third time
- 02/13/15 House: Passed House BLOCK VOTE (97-Y 0-N)
- 02/13/15 House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
- 02/17/15 Senate: Enrolled
- 02/17/15 Senate: Bill text as passed Senate and House (SB904ER)
- 02/17/15 House: Signed by Speaker
- 02/20/15 Senate: Signed by President
- 02/23/15 Senate: Enrolled Bill Communicated to Governor on 2/23/15
- 02/23/15 Governor: Governor's Action Deadline Midnight, Sunday, March 29, 2015
- 03/19/15 Governor: Approved by Governor-Chapter 335 (effective 7/1/15)
- 03/19/15 Governor: Acts of Assembly Chapter text (CHAP0335)