Angelia Graves
- Democratic
- Senator
- District 21
Primary
Historic rehabilitation tax credit; maximum amount of tax credit. Increases from $5 million to $7.5 million, beginning in taxable year 2025, the maximum amount of the historic rehabilitation tax credit, including amounts carried over from prior taxable years, that may be claimed by a taxpayer in any taxable year. This bill is identical to HB 960.
Historic rehabilitation tax credit; increase. Increases from $5 million to $10 million, beginning in taxable year 2025, the maximum amount of the historic rehabilitation tax credit, including amounts carried over from prior taxable years, that may be claimed by a taxpayer in any taxable year.
Historic rehabilitation tax credit; increase.Increases from $5 million to $10 million, beginning in taxable year2024, the maximum amount of the historic rehabilitation tax credit,including amounts carried over from prior taxable years, that maybe claimed by a taxpayer in any taxable year. In addition, shouldthe taxpayer incur expenses toward the rehabilitation of a certifiedhistoric structure in a locality that has a designated enterprise zone, as defined in relevant law, the taxpayer may claim up to anadditional $10 million in any taxable year.
Acts of Assembly Chapter text (CHAP0512)
Approved by Governor-Chapter 512 (effective 7/1/24)
Impact statement from TAX (SB556ER)
Governor's Action Deadline 11:59 p.m., April 8, 2024
Enrolled Bill Communicated to Governor on March 27, 2024
Signed by Speaker
Enrolled
Signed by President
Bill text as passed Senate and House (SB556ER)
Conference report agreed to by Senate (39-Y 1-N)
Conference report agreed to by House (80-Y 18-N)
VOTE: Adoption (80-Y 18-N)
Amended by conference committee
Senate acceded to request (39-Y 0-N)
Read third time
Committee amendment agreed to
Engrossed by House as amended
Passed House with amendment (73-Y 25-N)
VOTE: Passage (73-Y 25-N)
House amendment rejected by Senate (0-Y 39-N)
House insisted on amendment
House requested conference committee
Conferees appointed by Senate
Senators: Williams Graves, Obenshain, Surovell
Conferees appointed by House
Delegates: Lopez, Mundon King, Bloxom
Read second time
Reported from Appropriations with amendment(s) (19-Y 3-N)
Reported from Finance (16-Y 6-N)
Assigned App. sub: Commerce Agriculture & Natural Resources
Referred to Committee on Appropriations
Referred to Committee on Finance
Read first time
Placed on Calendar
Impact statement from TAX (SB556S1)
Read third time and passed Senate (40-Y 0-N)
Reading of substitute waived
Engrossed by Senate - committee substitute SB556S1
Committee substitute agreed to 24107347D-S1
Read second time
Constitutional reading dispensed (40-Y 0-N)
Committee substitute printed 24107347D-S1
Reported from Finance and Appropriations with substitute (13-Y 2-N)
Impact statement from TAX (SB556)
Prefiled and ordered printed; offered 01/10/24 24102367D
Referred to Committee on Finance and Appropriations
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/10/24 24102367D | PDF HTML |
| Committee substitute printed 24107347D-S1 | PDF HTML |
| SB556ER | PDF HTML |
| CHAP0512 | PDF HTML |
| Document | Format |
|---|---|
| Fiscal Impact Statement: SB556FER161.PDF | |
| Fiscal Impact Statement: SB556FS1161.PDF | |
| Fiscal Impact Statement: SB556F161.PDF | |
| Amendment: SB556AHE | HTML |
| Amendment: SB556AH | HTML |
| Amendment: SB556AC | HTML |
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