HOUSE BILL 1558

Sponsored By:

The Speaker (By Request - Administration) and Delegate Feldman

Entitled:

Business and Economic Development - Biotechnology Investment Incentive Act

Synopsis:

Imposing eligibility restrictions for the State income tax credit allowed for investments in qualified biotechnology companies; altering limits on the amount of the credit that may be claimed by specified persons; repealing a provision making the credit refundable under specified circumstances; imposing limits on the amount of the credit the Secretary of Business and Economic Development may certify for investments in a single business; altering provisions providing for the recapture of the credit under specified circumstances; etc.

History by Legislative Date

House Action

2/20

First Reading House Rules and Executive Nominations

2/27

Re-referred Ways and Means

3/1

Hearing 3/15 at 1:00 p.m.

Senate Action

No Action

Sponsored by:

Speaker of the House of Delegates

Administration

Delegate Brian J. Feldman, District 15

Bill indexed under the following Subjects:

BUSINESS AND ECONOMIC DEVELOPMENT, DEPARTMENT OF

INCOME TAX

INDUSTRY AND TECHNOLOGY

INVESTMENTS -see also- SECURITIES

RULES AND REGULATIONS

TAX CREDITS -see also- CIRCUIT BREAKER

Bill affects the following Statutes:

Tax - General

( 10-725 , 10-725 , 10-725 )

Documents:

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

Fiscal Note (Displayed in PDF Format): Available

Amendments: None offered