S.B. 1142: Income tax, corporate; taxable income of taxpayers with enterprise data center operations.
Virginia, 2015 Regular Session. Signed, March 10, 2015.
Last verified
S.B. 1142 at a glance
Status Signed Signed, .
No official summary is on file yet. The full text is on the legislature's page, linked below.
Apportionment of corporate income tax; taxpayers with enterprise data center operations. Requires taxpayers with certain enterprise data center operations to use a formula for apportioning taxable income to the Commonwealth based on multiplying their incomes by the sales factor. The apportionment formula would apply only to taxpayers that have entered into a memorandum of understanding with the Virginia Economic Development Partnership Authority to make a new capital investment of at least $150 million in an enterprise data center on or after July 1, 2015, and such taxpayer would begin using the formula in the taxable year that the Virginia Economic Development Partnership Authority certifies that the investment has been completed. The provisions of the bill would be effective for taxable years beginning July 1, 2016, and would be phased in with the apportionment formula having a 100 percent sales factor by July 1, 2017.
Measure Bill.
Sponsors Ryan McDougle (R)
Subjects None on file. The legislature's own list.
Official page lis.virginia.gov/cgi-bin/legp604.exe?151+sum+SB1142. Found through LegiScan (bill 678615), whose data is CC BY 4.0; the citation is the legislature's own page.
What happened, and when
- March 10, 2015 Signed
S.B. 1142 was signed. lis.virginia.gov primary source [1] The official action text: Governor: Approved by Governor-Chapter 92 (effective - see bill).
- February 17, 2015 Passed second chamber
S.B. 1142 passed the House of Delegates. lis.virginia.gov primary source [1] The official action text: Enrolled.
- February 11, 2015 In committee
S.B. 1142 went to committee in the House of Delegates. lis.virginia.gov primary source [1] The official action text: Reported from Finance (21-Y 0-N).
- February 9, 2015 In committee
S.B. 1142 went to committee in the House of Delegates. lis.virginia.gov primary source [1] The official action text: Referred to Committee on Finance.
- February 5, 2015 Passed first chamber
S.B. 1142 passed the Senate. lis.virginia.gov primary source [1] The official action text: Engrossed by Senate - committee substitute SB1142S1.
- February 3, 2015 In committee
S.B. 1142 went to committee in the Senate. lis.virginia.gov primary source [1] The official action text: Reported from Finance with substitute (14-Y 0-N).
- January 13, 2015 In committee
S.B. 1142 went to committee in the Senate. lis.virginia.gov primary source [1] The official action text: Referred to Committee on Finance.
- January 13, 2015 Introduced
S.B. 1142 was introduced in the Senate. lis.virginia.gov primary source [1] The official action text: Referred to Committee on Finance.
Newest first. A stage is never overwritten; each entry carries the source it rests on. The status at the top is derived from the newest entry. The action text in Researcher mode is the legislature's own wording.
Sources
Bill data from LegiScan, licensed CC BY 4.0. The record chooses the bills, writes each stage in its own words and cites the legislature's own page for every bill. Bills on this record are also found through the legislatures' own records; the citation is always the legislature's own page or the clerk's own file. This bill was found through LegiScan.
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Cite this page
Data Center Record, "S.B. 1142: Income tax, corporate; taxable income of taxpayers with enterprise data center operations.", https://datacenterrecord.org/bills/va-2015-sb-1142. Data: Data Center Record, datacenterrecord.org, CC BY 4.0.
The structured rows are CC BY 4.0. Link to this page; that is what turns a reuse into a citation. Prose stays under copyright.
