Bill Summary

Income tax credits; landlords participating in housing choice voucher programs. Establishes an individual and corporate income tax credit beginning with the 2010 taxable year for landlords who participate in a housing choice voucher program. Eligible landlords would receive a tax credit equal to 10 percent of the fair market value of the rent for each qualified housing unit. Qualified housing units would be dwelling units located in a census tract in the Richmond Metropolitan Statistical Area in which less than 10 percent of the residents live below the poverty level. The Department of Housing and Community Development would administer the tax credit. The Department would not be allowed to issue more than $450,000 in tax credits in any fiscal year. Tax credits would be allowed only for that portion of the taxable year in which a dwelling unit was included in a housing choice voucher program. The bill provides a five-year carryforward period for unused tax credits.

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Status

Became Law

Votes

Date Action Vote Document
2010-02-09House: Subcommittee recommends reporting with amendment(s) (4-Y 0-N)Yea: 4 No: 0 Other: 0Document
2010-02-10House: Reported from Finance with amendments (18-Y 4-N)Yea: 18 No: 4 Other: 0Document
2010-02-16House: VOTE: --- PASSAGE (94-Y 4-N)Yea: 95 No: 4 Other: 0Document
2010-02-24Senate: Rereferred from General Laws and Technology (13-Y 0-N)Yea: 13 No: 0 Other: 0Document
2010-03-02Senate: Reported from Finance with amendment (15-Y 0-N)Yea: 15 No: 0 Other: 0Document
2010-03-03Senate: Constitutional reading dispensed (40-Y 0-N)Yea: 40 No: 0 Other: 0Document
2010-03-03Senate: Passed Senate with amendment (39-Y 0-N)Yea: 39 No: 0 Other: 0Document
2010-03-03Senate: Reconsideration of Senate passage agreed to by Senate (40-Y 0-N)Yea: 40 No: 0 Other: 0Document
2010-03-03Senate: Passed Senate with amendment (40-Y 0-N)Yea: 40 No: 0 Other: 0Document
2010-03-03House: VOTE: --- ADOPTION (93-Y 3-N)Yea: 95 No: 3 Other: 0Document

Amendments

no data available at this time.

Bill History

Date Action
2010-04-11Governor: Acts of Assembly Chapter text (CHAP0520)
2010-04-11Governor: Approved by Governor-Chapter 520 (effective 7/1/10)
2010-03-13Senate: Signed by President
2010-03-11House: Signed by Speaker
2010-03-10House: Bill text as passed House and Senate (HB764ER)
2010-03-10House: Enrolled
2010-03-03House: VOTE: --- ADOPTION (93-Y 3-N)
2010-03-03House: Senate amendment agreed to by House (93-Y 3-N)
2010-03-03Senate: Passed Senate with amendment (40-Y 0-N)
2010-03-03Senate: Reconsideration of Senate passage agreed to by Senate (40-Y 0-N)
2010-03-03Senate: Passed Senate with amendment (39-Y 0-N)
2010-03-03Senate: Engrossed by Senate as amended
2010-03-03Senate: Committee amendment agreed to
2010-03-03Senate: Reading of amendment waived
2010-03-03Senate: Read third time
2010-03-03Senate: Constitutional reading dispensed (40-Y 0-N)
2010-03-02Senate: Reported from Finance with amendment (15-Y 0-N)
2010-02-24Senate: Rereferred to Finance
2010-02-24Senate: Rereferred from General Laws and Technology (13-Y 0-N)
2010-02-17Senate: Referred to Committee on General Laws and Technology
2010-02-17Senate: Constitutional reading dispensed
2010-02-16House: VOTE: --- PASSAGE (94-Y 4-N)
2010-02-16House: Read third time and passed House (94-Y 4-N)
2010-02-15House: Printed as engrossed 10103923D-E
2010-02-15House: Engrossed by House as amended HB764E
2010-02-15House: Amendment by Delegate McClellan withdrawn
2010-02-15House: Committee amendment #5 agreed to
2010-02-15House: Committee amendment #5 reconsidered
2010-02-15House: Committee amendment #5 rejected
2010-02-15House: Committee amendments 1, 2, 3 and 4 agreed to
2010-02-15House: Read second time
2010-02-12House: Read first time
2010-02-10House: Reported from Finance with amendments (18-Y 4-N)
2010-02-09House: Subcommittee recommends reporting with amendment(s) (4-Y 0-N)
2010-01-25House: Assigned Finance sub: #3
2010-01-12House: Referred to Committee on Finance
2010-01-12House: Prefiled and ordered printed; offered 01/13/10 10103923D

Sponsors

Name District
Jennifer McClellanSD-009
Christopher PeaceHD-097
Jeion WardHD-092
Delores McQuinnHD-070