HOUSE BILL 31

File Code: Taxes - Income Prior Year Introduction As: HB 599/08 - W&M Crossfiled with: SENATE BILL 633

Sponsored By:

Delegate Taylor

Entitled:

Income Tax - Subtraction Modification - Creation of a Minority Business Enterprise

Synopsis:

Providing a subtraction modification under the State income tax for income from specified sales that result in the creation of specified minority business enterprises; providing for the recapture of the subtraction modification under specified circumstances; defining terms; applying the Act to taxable years beginning after December 31, 2008; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.

House Action

10/7

Pre-filed

1/14

First Reading Ways and Means

1/21

Hearing 2/3 at 11:00 a.m.

Senate Action

No Action

Bill indexed under the following Subjects:

Commerce and Business -see also- Dealers; Elec. Comm.; etc

Exemptions

Income Tax

Mergers and Acquisitions

Minorities -see also- Women

Small Business

Bill affects the following Statutes:

Tax - General

( 10-205 , 10-205 , 10-207 , 10-207 , 10-306 , 10-306 , 10-307 , 10-307 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered