HB 1891 — Geothermal heat pump property expenditure; establishes a tax credit for taxable years 2017-2021.
Last action — Left in Finance
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✓Introduced
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2In Committee
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3Passed House of Delegates
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4Passed Senate
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5To Executive
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6Enacted
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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 a tax credit, for taxable years 2017 through 2021, for geothermal heat pump property expenditures at a residence in Virginia. The bill defines "geothermal heat pump property expenditure" as any expenditure for equipment that uses the ground or groundwater as a thermal energy source to heat a residence or as a thermal energy sink to cool a residence. The credit would equal 25 percent of purchase or installation expenditures. An eligible individual taxpayer could claim a maximum of 50 percent of his tax liability or $2,500, whichever is less, and carry over unused credit for up to 10 years. In addition, a taxpayer could claim only 25 percent of the total cost of geothermal heat pump property at a single residence, up to a maximum of $10,000. The bill authorizes the Department of Taxation to issue up to $10 million in credits each fiscal year.
Bill Text
- Prefiled House: Prefiled and ordered printed; offered 01/11/17 17101468D Current html January 10, 2017
Action History
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Left in Finance
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Subcommittee recommends laying on the table by voice vote
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Assigned Finance sub: Subcommittee #1
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Referred to Committee on Finance
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Prefiled and ordered printed; offered 01/11/17 17101468D
Sponsors
- Timothy D. Hugo · Primary
- Jr. Richard C. "Rip" Sullivan · Cosponsor
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 146 not signed on
Sponsors (1)
- Timothy D. Hugo
Co-sponsors (1)
Not signed on (146)
146 members have not signed on to this bill.
Show all 146 →"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.
Subjects
Frequently asked questions
- What does HB 1891 do?
- Establishes a tax credit, for taxable years 2017 through 2021, for geothermal heat pump property expenditures at a residence in Virginia. The bill defines "geothermal heat pump property expenditure" as any expenditure for equipment that uses the ground or groundwater as a thermal energy source to heat a residence or as a thermal energy sink to cool a residence. The credit would equal 25 percent of purchase or installation expenditures. An eligible individual taxpayer could claim a maximum of 50 percent of his tax liability or $2,500, whichever is less, and carry over unused credit for up to 10 years. In addition, a taxpayer could claim only 25 percent of the total cost of geothermal heat pump property at a single residence, up to a maximum of $10,000. The bill authorizes the Department of Taxation to issue up to $10 million in credits each fiscal year.
- Who sponsors HB 1891?
- HB 1891 is sponsored by Timothy D. Hugo and Richard C. "Rip" Sullivan, Jr..
- What is the current status of HB 1891?
- 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 HB 1891?
- Track HB 1891 free on One Click Politics — get push/email alerts when it moves.
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