2012 Session

Budget Amendments - HB1300 (Committee Approved)

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Item 3-5.01 #1h

Item 3-5.01 #1h

Adjustments and Modifications to Tax Collections
Qualified Equity and Subordinated Debt Investment Tax Credit

Page 189, line 20, after "$5,000,000." insert:
For taxable years beginning on and after January 1, 2011, the amount of the Qualified Equity and Subordinated Debt Investments Tax Credit available under §58.1-339.4, Code of Virginia, shall be limited to $3,000,000."

(This amendment continues the cap on the tax credit that has been in effect since January 1, 2006 with the exception of tax year 2010.)