SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2020 SESSION

  • | print version

HB 748 Research and development tax credits; extends sunset date, aggregate caps.

Introduced by: Jerrauld C. "Jay" Jones | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Research and development tax credits; sunset; aggregate caps. Extends the sunset date for both the research and development expenses tax credit and the major research and development expenses tax credit from January 1, 2022, to January 1, 2025. Beginning with taxable year 2021, the bill increases the aggregate cap of the research and development expenses tax credit from $7 million to $7.77 million and increases the aggregate cap of the major research and development expenses tax credit from $20 million to $24 million. For both credits, the bill moves back the annual deadline for applications for the credit from July 1 to September 1. This bill is identical to SB 110.


FULL TEXT

AMENDMENTS

HISTORY