HB 2198 Coal tax; limits aggregate amount of credits that may be allocated or claimed for employment, etc.
Terry G. Kilgore | all patrons    ...    notes
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Summary as passed House: (all summaries)

Coal tax credits. Reinstates the Virginia coal employment and production incentive tax credit. The credit, which expired on July 1, 2016, could be earned on and after January 1, 2017, but before January 1, 2022. The bill limits the aggregate amount of credits that may be allocated or claimed for the coal employment and production incentive tax credit in each fiscal year to $7.3 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 $7.3 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 years beginning before January 1, 2022. This bill is identical to SB 1470.

Full text:
01/11/17  House: Prefiled and ordered printed; offered 01/11/17 17103048D  pdf | impact statement
01/30/17  House: Committee substitute printed 17104757D-H1  pdf | impact statement
02/14/17  House: Bill text as passed House and Senate (HB2198ER)  pdf | impact statement

Amendments:
Governor's veto explanation

Status:
01/11/17  House: Prefiled and ordered printed; offered 01/11/17 17103048D
01/11/17  House: Referred to Committee on Finance
01/30/17  House: Reported from Finance with substitute (15-Y 6-N)
01/30/17  House: Committee substitute printed 17104757D-H1
01/31/17  House: Read first time
02/01/17  House: Read second time
02/01/17  House: Committee substitute agreed to 17104757D-H1
02/01/17  House: Engrossed by House - committee substitute HB2198H1
02/02/17  House: Read third time and passed House (65-Y 29-N 1-A)
02/02/17  House: VOTE: PASSAGE (65-Y 29-N 1-A)
02/03/17  Senate: Constitutional reading dispensed
02/03/17  Senate: Referred to Committee on Finance
02/08/17  Senate: Reported from Finance (10-Y 4-N)
02/09/17  Senate: Constitutional reading dispensed (40-Y 0-N)
02/10/17  Senate: Read third time
02/10/17  Senate: Passed Senate (24-Y 15-N)
02/14/17  House: Enrolled
02/14/17  House: Bill text as passed House and Senate (HB2198ER)
02/14/17  House: Signed by Speaker
02/15/17  Senate: Signed by President
02/15/17  House: Enrolled Bill communicated to Governor on 2/15/17
02/15/17  Governor: Governor's Action Deadline Midnight, February 22, 2017
02/21/17  Governor: Vetoed by Governor
02/23/17  House: Passed by until Wednesday, April 5, 2017
04/05/17  House: Placed on Calendar
04/05/17  House: House sustained Governor's veto (65-Y 33-N 1-A)
04/05/17  House: VOTE: OVERRIDE GOVERNOR'S VETO (65-Y 33-N 1-A)
04/05/17  House: (67 affirmative votes required to override)