Senate panel OKs 5 bills for local lawmakers
Published: February 15, 2011
By Ray Reed
RICHMOND — The Senate Finance Committee approved five bills Tuesday with a unanimity that almost assured final approval of the measures, which are sponsored by Dels. Scott Garrett, R-Lynchburg and Ben Cline, R-Rockbridge County.
Cline’s HB1447 allows a tax credit for research and development work done by companies in Virginia. The panel’s vote was 15-0.
Cline’s HB2183 allows local commissioners of revenue to register new businesses for collection of the state sales tax. The vote was 15-0.
Garrett’s HB1840 would double the state tax credit for people who purchase long-term care insurance to 30 percent of the premium amount. The bill won’t take effect for at least a year. The vote was 15-0.
Garrett’s HB1837 allows wineries and vineyards to claim a tax credit for equipment and materials they purchase. The panel’s vote was 10-1 in favor.
Garrett’s HB2335 provides a tax credit that allows Genworth Financial to recover up to $7 million annually from Virginia based on taxes the company pays in other states. The tax credit fulfills a promise Virginia made to Genworth when it moved offices into the Lynchburg and Richmond areas several years ago. The vote was 11-0.
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| Print article | Dated February 15, 2011. Filed under News Article. |
