2007 Regular Session

HOUSE BILL 986

File Code: Taxes - Income Prior Year Introduction As: HB 1449/06 - W&M
Sponsored By:
Delegates Rosenberg, George, Gilchrist, Holmes, Hucker, Kaiser, N. King, and Oaks
Entitled:
Lead Safe Income Tax Credit

Synopsis:

Allowing an individual or a corporation to claim a credit against the State income tax for costs incurred for an approved lead hazard reduction project for qualifying property; providing for calculation of the credit; providing for submission of proposals for lead hazard reduction projects to the Department of Housing and Community Development for approval; limiting to $3,000,000 the total amount of credits that the Department may approve for any fiscal year; applying the Act to tax years beginning after December 31, 2006; etc.

History by Legislative and Calendar Date

House Action
2/9
First Reading Ways and Means
2/13
Hearing 2/27 at 1:00 p.m.
3/23
Unfavorable Report by Ways and Means
Senate Action
No Action

Sponsored by:

Delegate Samuel I. Rosenberg, District 41
Delegate Ronald A. George, District 30
Delegate Jim Gilchrist, District 17
Delegate Marvin E. Holmes, Jr., District 23B
Delegate Tom Hucker, District 20
Delegate Anne R. Kaiser, District 14
Delegate Nancy J. King, District 39
Delegate Nathaniel T. Oaks, District 41

Bill indexed under the following Subjects:

Child Care
Hazardous and Toxic Substances -see also- Asbestos; Radiatn.
Housing and Community Development, Department of
Housing -see also- Apartments; Condominiums; Mobile Homes
Income Tax
Penalties
Rules and Regulations
Tax Credits -see also- Circuit Breaker

Bill affects the following Statute:

Tax - General
( 10-726 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments: None offered