Arthur L. Turner
- Democratic
Primary
Creates the New Markets Development Program Act. Defines terms. Provides that taxpayers that make a qualified equity investment earn a vested right to certain tax credits against income, franchise, and insurance premium taxes. Credits are not transferable. Sets annual caps on credits. Provides for recapture. Authorizes the Department of Commerce and Economic Opportunity to promulgate rules. Sunsets after fiscal year 2012 unless reauthorized by the General Assembly. Contains other provisions. Effective immediately.
Session Sine Die
Added as Alternate Co-Sponsor Sen. Michael Noland
Rule 2-10 Committee Deadline Established As May 22, 2008; Substantive House Bills Out of Committee
Chief Senate Sponsor Sen. James F. Clayborne, Jr.
Referred to Rules
First Reading
Placed on Calendar Order of First Reading April 8, 2008
Arrive in Senate
Added Chief Co-Sponsor Rep. Karen A. Yarbrough
Added Chief Co-Sponsor Rep. Ruth Munson
Third Reading - Short Debate - Passed 108-000-001
Placed on Calendar Order of 3rd Reading - Short Debate
Second Reading - Short Debate
Do Pass as Amended / Short Debate Revenue Committee; 012-000-000
House Committee Amendment No. 1 Adopted in Revenue Committee; by Voice Vote
Placed on Calendar 2nd Reading - Short Debate
House Committee Amendment No. 1 Filed with Clerk by Revenue Committee
Recommends Do Pass Subcommittee/ Revenue Committee; 003-000-000
Assigned to Revenue Committee
Referred to Rules Committee
Filed with the Clerk by Rep. Arthur L. Turner
First Reading
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML |
| Engrossed | HTML |
| Document | Format |
|---|---|
| House Amendment 001 |
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