Items in the Senate and House Budgets
“Virginia Reinvestment Act” – SB 1477 (McDougle, Garrett, Stanley) – Provides a $5M exemption for companies that bring business back to Virginia. This exemption would be good in tax year 2016 for companies that make a $5M capital investment.
Additional Budget Proposals
HB 2098 (Davis) – Tangible personal property, miscellaneous incidental property. This bill allows small items with an initial value of $250 to be grouped together for tax purposes.
HB 1879/SB 741 – Coal Tax Credit Extension – Limits the credit to $500,000 per return, reduces the tax credit from $3 per ton of coal purchased by an electricity generator to $2 per ton. The effective date of the new terms begins January 1, 2015. Passed House 69Y – 29N.
HB 1512/Minimum Wage to $15.15 per hour. DEFEATED – Tabled in House Commerce and Labor by voice vote.
SB 681/Minimum Wage to $8.00 per hour with increases over three years. DEFEATED – Passed by indefinitely in Senate Commerce and Labor 11Y – 3N.
HB 1940 (Greason) – Health Insurance – Mandated coverage for autism spectrum disorder required for age 2 through 6. This bill mandates coverage in Virginia so the cost of private health insurance will be impacted. House PASSED 63Y – 35N.
SB 1349 (Wagner) – Electric Utility regulation – Suspends review of earnings in return for base rate freeze. Senate PASSED 32Y – 6N/House PASSED 72Y – 23N.
HJ 637 (Landes) – Directs the Joint Legislative Audit and Review Commission to study the Commonwealth’s Medicaid program. Included in the study are: cost analysis of highest cost services, opportunities for improved efficiencies. House PASSED 70Y – 23N.
HB 1886, HB 1887 (Jones) – Oversight of transportation expenditures will be improved with a more independent Commonwealth Transportation Board. Also State of Good Repair Funding will provide VDOT the ability to meet and sustain a state of good repair for pavement and bridges.
HB 1550, HB 1838, HB 1585 – Labor Day School Start – DEFEATED in Senate Education and Health Committee 9N – 5Y. Defeating the Labor Day School Start bills protects the Virginia Tourism Industry that generates $21.5B in economic activity annually and employs over 213,000 Virginians. State tax revenues from tourism are enough to pay for the salaries of 15,000 police officers, the education of 76,000 Virginia students, the salaries of 13,000 elementary school teachers OR maintaining 60,000 miles of Virginia roads annually.