Virginia 2017 Regular Session Status: In Committee

SB 1106 — Made in Appalachia Initiative; refundable tax credits.

Last action — Referred to Committee on Finance

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House of Delegates
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2017 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Establishes beginning in taxable year 2017 refundable tax credits for certain investments in the localities of the Appalachian region. The bill defines the "Appalachian region" to include the localities of the Cumberland Plateau, LENOWISCO, and Mount Rogers planning districts. Any person may claim a credit in the amount of (i) 10 percent of any capital investment in the Appalachian region, (ii) $6,000 per full-time job created in the Appalachian region that pays at or above the locality's median wage, and (iii) the sales tax paid by the person in purchasing materials directly used in the manufacture of products in the Appalachian region. The bill authorizes the Department of Taxation to issue up to $40 million in credits per taxable year. Any person who earns credits would be allowed to transfer unused credits to another taxpayer; however, such transfer would be subject to a fee of one percent of the dollar amount of the credits.

Bill Text

Action History

  1. Referred to Committee on Finance

  2. Prefiled and ordered printed; offered 01/11/17 17101048D

Sponsors

  • A. Benton "Ben" Chafin · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 147 not signed on

Sponsors (1)

  • A. Benton "Ben" Chafin

Co-sponsors (0)

None.

Not signed on (147)

147 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

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Frequently asked questions

What does SB 1106 do?
Establishes beginning in taxable year 2017 refundable tax credits for certain investments in the localities of the Appalachian region. The bill defines the "Appalachian region" to include the localities of the Cumberland Plateau, LENOWISCO, and Mount Rogers planning districts. Any person may claim a credit in the amount of (i) 10 percent of any capital investment in the Appalachian region, (ii) $6,000 per full-time job created in the Appalachian region that pays at or above the locality's median wage, and (iii) the sales tax paid by the person in purchasing materials directly used in the manufacture of products in the Appalachian region. The bill authorizes the Department of Taxation to issue up to $40 million in credits per taxable year. Any person who earns credits would be allowed to transfer unused credits to another taxpayer; however, such transfer would be subject to a fee of one percent of the dollar amount of the credits.
Who sponsors SB 1106?
SB 1106 is sponsored by A. Benton "Ben" Chafin.
What is the current status of SB 1106?
This bill died with 2017 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 1106?
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Last checked for changes 3 months ago · updated continuously

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