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
2010-02-03Senate: Reported from Finance with amendments (15-Y 0-N)Yea: 15 No: 0 Other: 0Document
2010-02-04Senate: Constitutional reading dispensed (40-Y 0-N)Yea: 40 No: 0 Other: 0Document
2010-02-09Senate: Read third time and passed Senate (40-Y 0-N)Yea: 40 No: 0 Other: 0Document
2010-02-22House: Reported from Finance with amendment (21-Y 1-N)Yea: 21 No: 1 Other: 0Document
2010-02-26House: VOTE: --- PASSAGE (94-Y 1-N)Yea: 95 No: 1 Other: 0Document
2010-03-02Senate: House amendment agreed to by Senate (40-Y 0-N)Yea: 40 No: 0 Other: 0Document

Amendments

no data available at this time.

Bill History

Date Action
2010-04-11Governor: Acts of Assembly Chapter text (CHAP0608)
2010-04-11Governor: Approved by Governor-Chapter 608 (effective 7/1/10)
2010-03-12Senate: Signed by President
2010-03-10House: Signed by Speaker
2010-03-10Senate: Bill text as passed Senate and House (SB458ER)
2010-03-10Senate: Enrolled
2010-03-02Senate: House amendment agreed to by Senate (40-Y 0-N)
2010-02-26House: VOTE: --- PASSAGE (94-Y 1-N)
2010-02-26House: Passed House with amendment (94-Y 1-N)
2010-02-26House: Engrossed by House as amended
2010-02-26House: Amendment by Delegate McClellan agreed to
2010-02-26House: Committee amendment rejected
2010-02-26House: Read third time
2010-02-25House: Passed by for the day
2010-02-25House: Read third time
2010-02-24House: Passed by for the day
2010-02-23House: Read second time
2010-02-22House: Reported from Finance with amendment (21-Y 1-N)
2010-02-19House: Assigned Finance sub: #2
2010-02-17House: Referred to Committee on Finance
2010-02-17House: Read first time
2010-02-17House: Placed on Calendar
2010-02-09Senate: Read third time and passed Senate (40-Y 0-N)
2010-02-08Senate: Printed as engrossed 10103904D-E
2010-02-08Senate: Engrossed by Senate as amended SB458E
2010-02-08Senate: Committee amendments agreed to
2010-02-08Senate: Reading of amendments waived
2010-02-08Senate: Read second time
2010-02-04Senate: Constitutional reading dispensed (40-Y 0-N)
2010-02-03Senate: Reported from Finance with amendments (15-Y 0-N)
2010-01-13Senate: Referred to Committee on Finance
2010-01-13Senate: Prefiled and ordered printed; offered 01/13/10 10103904D

Sponsors

Name District
Donald McEachinSD-009