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1996 SESSION

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HB 810 Tax credit for qualified equity and subordinated debt investments.

Introduced by: Franklin P. Hall | all patrons    ...    notes | add to my profiles

SUMMARY:

Tax credit for qualified equity and subordinated debt investments. Creates a tax credit, for taxable years beginning January 1, 1996, through December 31, 1999, in an amount equal to twenty-five percent of a taxpayer's qualified equity investment or qualified subordinated debt investment in a qualified Virginia small business venture. The amount of credit per qualified investment shall not exceed the lesser of (i) the tax imposed for the taxable year or (ii) $25,000 for an individual and $50,000 for a corporation. The total amount of tax credits available shall not exceed $5 million. The State Corporation Commission must annually certify to the Department of Taxation that a taxpayer has qualified for the credit.

FULL TEXT

• 01/22/96  House: Presented & ordered printed 961640260  pdf
• 01/24/96  House: Introduced bill reprinted 961640260  pdf

HISTORY

• 01/22/96  House: Presented & ordered printed 961640260
• 01/22/96  House: Referred to Committee on Finance
• 01/24/96  House: Assigned to Finance sub-committee: 2
• 01/24/96  House: Introduced bill reprinted 961640260
• 02/13/96  House: Continued to 1997 in Finance w/sub. (22-Y 0-N)