Consideration of SB 1265, SB 1388, SB 1460, SB 1490 and HB 1913


May 9, 2012
10:00 a.m.
8E-A East Wing

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Senate Bill 1265 (Earll) | Analysis – Amends Title 12 (Commerce and Trade) providing an Angel Investment Tax Credit for early stage business financing.

A10194 (Senator Earll) – Provides: technical changes; clarifications of the definition of “accredited investor” and “net worth”; further requirements for businesses that qualify for tax credits; and additional requirements for the administration of the tax credits.

Senate Bill 1388 (Ferlo) | Analysis Amends the Realty Transfer Tax by:  broaden the definition of “real estate company”; and provide that a “real estate company” becomes an “acquired company” in certain additional cases where a legal commitment to transfer is provided.

A10192 (Senator Brubaker) – Strikes all language amending the definition of “real estate company”; Amends the language on “acquired company” to require that (a) the legal commitment is binding; (b) the legal commitment has fixed terms which are not subject to negotiation; and (c) full consideration, in any form, is received by the transferring party.    

Senate Bill 1460 (Brubaker) | Analysis – Amends the TRC providing an Industry Partnership Tax Credit.

A10319 (Senator Brubaker) – Technical amendment.

Senate Bill 1490 (Brubaker) | Analysis – Amends the TRC to provide reform of the Commonwealth’s Tax Appeals Process.
A10093 (Senator Brubaker) – Technical amendment.

House Bill 1913 (Culver) | Analysis – Enacts the Real Estate Tax Abatement for Properties Damaged by Hurricane Irene or Tropical Storm Lee Act.