SB 1470 Coal tax; limits aggregate amount of credits that may be allocated or claimed for employment, etc.
A. Benton "Ben" Chafin | all patrons    ...    notes
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Summary as passed Senate: (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 HB 2198.

Full text:
01/16/17  Senate: Presented and ordered printed 17103387D  pdf | impact statement
02/02/17  Senate: Printed as engrossed 17103387D-E  pdf | impact statement
02/17/17  Senate: Bill text as passed Senate and House (SB1470ER)  pdf | impact statement

Amendments:
Senate amendments
Governor's veto explanation

Status:
01/16/17  Senate: Presented and ordered printed 17103387D
01/16/17  Senate: Referred to Committee on Finance
01/31/17  Senate: Reported from Finance with amendment (11-Y 4-N)
02/01/17  Senate: Constitutional reading dispensed (40-Y 0-N)
02/02/17  Senate: Read second time
02/02/17  Senate: Reading of amendment waived
02/02/17  Senate: Committee amendment agreed to
02/02/17  Senate: Engrossed by Senate as amended SB1470E
02/02/17  Senate: Printed as engrossed 17103387D-E
02/03/17  Senate: Read third time and passed Senate (25-Y 15-N)
02/08/17  House: Placed on Calendar
02/08/17  House: Read first time
02/08/17  House: Referred to Committee on Finance
02/13/17  House: Reported from Finance (15-Y 6-N)
02/14/17  House: Read second time
02/15/17  House: Read third time
02/15/17  House: Passed House (68-Y 29-N 1-A)
02/15/17  House: VOTE: PASSAGE (68-Y 29-N 1-A)
02/17/17  Senate: Enrolled
02/17/17  Senate: Bill text as passed Senate and House (SB1470ER)
02/17/17  House: Signed by Speaker
02/20/17  Senate: Signed by President
02/21/17  Senate: Enrolled Bill Communicated to Governor on 2/21/17
02/21/17  Governor: Governor's Action Deadline Midnight, March 27, 2017
03/13/17  Governor: Vetoed by Governor
04/05/17  Senate: Senate sustained Governor's veto (24-Y 16-N)
04/05/17  Senate: Requires 27 affirmative votes to override veto