Virginia Governor Releases Legislative Agenda: "The Greatest Opportunity"
by AccountingWeb on
According to a press release on the Governor's website,  Governor Bob McDonnell, joined by Lieutenant Governor and Chief Jobs Creation Officer Bill Bolling and numerous legislators, announced yesterday his "The Greatest Opportunity: Jobs and Economic Development Legislative Agenda" for the 2012 General Assembly session during a morning press conference in Richmond. This year's agenda builds on the aggressive job creation and economic development measures that passed the General Assembly with strong bipartisan support during the 2010 and 2011 sessions. In line with the budget priorities outlined in his address to the Joint Money Committees in December, Governor McDonnell has asked for increased support of job creating funds and initiatives as part of his introduced 2013/2014 biennial budget. He also will advance legislation to increase access to capital for business and implement greater coordination among economic development entities, along with budget items increasing the support of job creation funds and initiatives. The legislative agenda includes several tax credits:
- Small business investor tax credit(Merricks/McDougle)
- Extend the Acceleration of the Major Business Facility Jobs Tax Credit(Kilgore/Reeves)
- Extend the sunset date for investments that qualify for the capital gains income tax subtraction