Legislation

Title: Heritage Structure Rehabilitation Tax Credit - Alterations - Opportunity Zones, Targeted Projects, and Transferability
Sponsored by: Delegates Lierman, Ivey, Krimm, J. Lewis, R. Lewis, Lisanti, Mosby, Qi, Smith, Terrasa, and Washington
Status: In the House - Hearing 3/08 at 1:00 p.m.
Analysis: Fiscal and Policy Note

Synopsis

Authorizing an additional 5% tax credit under the heritage structure rehabilitation tax credit program for certain commercial rehabilitations that qualify as opportunity zone projects; altering the definition of "small commercial project" to include certain residential units sold as part of a development project and certain targeted projects; making the credit transferable and refundable under certain circumstances; requiring the Governor to appropriate at least $20,000,000 for the tax credit reserve fund; etc.

Committees

Original:: Ways and Means Click to view Recorded Media

Details

Cross-filed with: SB0656

Bill File Type: Regular

Effective Date(s): July 1, 2019

Bill imposes a mandated appropriation in the annual State Budget Bill

History

Legislation History
Chamber House Calendar Date 2/08/2019 Legislative Date 2/08/2019 Action First Reading Ways and Means Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Heritage Structure Rehabilitation Tax Credit - Alterations - Opportunity Zones, Targeted Projects, and Transferability Proceedings
Chamber House Calendar Date 2/12/2019 Legislative Date 2/12/2019 Action Hearing 3/08 at 1:00 p.m. Proceedings

Chamber	Calendar Date	Legislative Date	Action
House	2/08/2019	2/08/2019	First Reading Ways and Means
			Text - First - Heritage Structure Rehabilitation Tax Credit - Alterations - Opportunity Zones, Targeted Projects, and Transferability
House	2/12/2019	2/12/2019	Hearing 3/08 at 1:00 p.m.

File Code

Subjects

Statutes