David Bulova
- Democratic
- Delegate
- District 11
Primary
Income tax; housing opportunity tax credit; sunset extended. Extends the housing opportunity tax credit sunset date from taxable year 2025 to taxable year 2030. The bill also increases the aggregate credit cap across all calendar years from $255 million to $595 billion and imposes an annual aggregate credit cap of $68 million in each calendar year between 2026 and 2030. The bill also provides that of the $68 million in credits authorized per calendar year from 2026 through 2030, 33 percent shall be reserved for qualified projects located in a geographic area within the Balance of State Pool, defined in the bill. As introduced, this bill was a recommendation of the Virginia Housing Commission.
A BILL to amend and reenact ยงยง 58.1-439.29 and 58.1-439.30 of the Code of Virginia, relating to income tax; Virginia housing opportunity tax credit; sunset extended.
Passed by indefinitely in Finance and Appropriations (15-Y 0-N)
Impact statement from TAX (HB1701)
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed (on 1st reading)
Read third time and passed House (94-Y 3-N)
Read second time
Appropriations Amendment agreed to
Engrossed by House as amended
Printed as engrossed 25100868D-E
Read first time
Reported from Appropriations with amendment(s) (22-Y 0-N)
Assigned Approps sub: Commerce Agriculture & Natural Resources
Reported from Finance and referred to Appropriations (21-Y 1-N)
Subcommittee recommends reporting and referred to Appropriations (7-Y 0-N 1-A)
Assigned Finance sub: Subcommittee #2
Impact statement from TAX (HB1701)
Prefiled and ordered printed; Offered 01-08-2025 25100868D
Referred to Committee on Finance
| Bill Text Versions | Format |
|---|---|
| Engrossed | HTML PDF |
| Appropriations Amendment | HTML |
| Introduced | HTML PDF |
| Document | Format |
|---|---|
| Impact statement from TAX (HB1701) | PDF PDF |
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