Agricultural best management practices tax credit; refundability for corporations.
Summary
Allows taxpayers to apply for a refund of corporate income tax credits received for expenditures for agricultural best management practices. Under current law, corporate income tax credits that exceed the taxpayer's tax liability are not refundable but may be carried forward for up to five years. Furthermore, under current law, individual income tax credits for expenditures related to agricultural best management practices are refundable.
Bill status
passed
4 of 5 stages cleared
Introduction
Jan 2018
Committee Review
Feb 2018
House of Delegates Passage
Feb 2018
Senate Passage
Feb 2018
Governor
Introduced Jan 12, 2018
Last action Mar 7, 2018
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
14
Key actions
1
Committee
3
Feb 14, 2018
Committee
Referred to Committee on Finance
legislature
Feb 13, 2018
Legislature · Passed
Read third time and passed House (100-Y 0-N)
legislature
Jan 30, 2018
Committee
Assigned Finance sub: Subcommittee #2
legislature
Jan 12, 2018
Committee
Referred to Committee on Finance
legislature
Jan 12, 2018
Introduced
Presented and ordered printed 18104070D
legislature
1 primary · 3 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Kathy J. Byron
RRepublican
Co
Matt Fariss
RRepublican
Co
T. Scott Garrett
RRepublican
Co
Terry Austin
RRepublican
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