All Roll Calls
Yes: 15 • No: 0
VirginiaSB14332025 Regular SessionSenate
Mobile machinery and equipment; tax credit for purchase.
Sponsored By: David W. Marsden (Democratic)
Failed
Summary
Tax credit for purchase of mobile machinery and equipment used by road contractors for processing recyclable asphalt materials on pavements and roadways. Creates a nonrefundable tax credit for taxable years 2025 through 2029 in an amount equal to 20 percent of the purchase price paid, as defined in the bill, during the taxable year for machinery and equipment used to reclaim, recycle, or reprocess existing asphalt materials from pavements and roadways. The bill requires a taxpayer to submit invoices with an income tax return verifying the amount of purchase price paid for such machinery and equipment. The bill provides a $3 million aggregate annual cap on the number of credits to be distributed, as administered by the Department of Taxation. Any credit not used for the taxable year in which the purchasing price for recycling machinery was paid may be carried over for the next 10 years until the total credit amount is used.
Finance and Appropriations
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
David W. Marsden
Democratic • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 1/28/2025
Stricken at request of Patron in Finance and Appropriations
Yes: 15 • No: 0
Actions Timeline
Stricken at request of Patron in Finance and Appropriations (15-Y 0-N)
1/28/2025SenateImpact statement from TAX (SB1433)
1/26/2025SenateReferred to Committee on Finance and Appropriations
1/17/2025SenatePresented and ordered printed 25104903D
1/17/2025Senate
Bill Text
Introduced
1/17/2025
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