---
type: "Bill"
title: "Historic rehabilitation; maximum amount of tax credit."
description: "Historic rehabilitation tax credit; increase.Increases from $5 million to $10 million, beginning in taxable year2024, the maximum amount of the historic rehabilitation tax credit,including amounts carried over from prior taxable years, that maybe claimed by a taxpayer in any taxable year. In addition, shouldthe taxpayer incur expenses toward the rehabilitation of a certifiedhistoric structure in a locality that has a designated enterprise zone, as defined in relevant law, the taxpayer may claim up to anadditional $10 million in any taxable year."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2024"
identifier: "SB 556"
citation: "Virginia SB 556 (2024)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Angelia Williams Graves"]
version_count: 4
action_count: 46
vote_count: 10
first_action: "2024-01-10"
last_action: "2024-04-04"
source: "openstates"
source_identifier: "ocd-bill/61e92dd6-a85b-4814-8a19-285d3bb829a8"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+SB556"
source_hash: "7e8e0a6844b86e6888680240cb0fa3e801594ae65285827efb305ab0614a7165"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-va"]
---

# Virginia SB 556 (2024) — Historic rehabilitation; maximum amount of tax credit.

Historic rehabilitation tax credit; increase.Increases from $5 million to $10 million, beginning in taxable year2024, the maximum amount of the historic rehabilitation tax credit,including amounts carried over from prior taxable years, that maybe claimed by a taxpayer in any taxable year. In addition, shouldthe taxpayer incur expenses toward the rehabilitation of a certifiedhistoric structure in a locality that has a designated enterprise zone, as defined in relevant law, the taxpayer may claim up to anadditional $10 million in any taxable year.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **CHAP0512** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+CHAP0512)
2. **Committee substitute printed 24107347D-S1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB556S1)
3. **Prefiled and ordered printed; offered 01/10/24 24102367D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB556)
4. **SB556ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB556ER)

## Votes

- Senate acceded to request (39-Y 0-N) — **39–0** (pass) · upper
- Reported from Appropriations with amendment(s) (19-Y 3-N) — **19–3** (pass) · lower
- VOTE: Adoption (80-Y 18-N) — **79–18** (pass) · lower
- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
- Reported from Finance (16-Y 6-N) — **16–6** (pass) · lower
- Read third time and passed Senate (40-Y 0-N) — **40–0** (pass) · upper
- VOTE: Passage (73-Y 25-N) — **72–25** (pass) · lower
- Conference report agreed to by Senate (39-Y 1-N) — **39–1** (pass) · upper
- House amendment rejected by Senate (0-Y 39-N) — **0–39** (fail) · upper
- Reported from Finance and Appropriations with substitute (13-Y 2-N) — **13–2** (pass) · upper

## Sponsors

- Angelia Williams Graves — primary (person)
- Bonita G. Anthony — cosponsor (person)
- Irene Shin — cosponsor (person)
- Lamont Bagby — cosponsor (person)
- Nadarius E. Clark — cosponsor (person)
- Saddam Azlan Salim — cosponsor (person)
- Scott A. Surovell — cosponsor (person)
- Shelly A. Simonds — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-01-10** Prefiled and ordered printed; offered 01/10/24 24102367D `filing, introduction`
- **2024-01-10** Referred to Committee on Finance and Appropriations `referral-committee`
- **2024-01-26** Impact statement from TAX (SB556)
- **2024-02-07** Reported from Finance and Appropriations with substitute (13-Y 2-N) `committee-passage`
- **2024-02-07** Committee substitute printed 24107347D-S1 `substitution`
- **2024-02-08** Constitutional reading dispensed (40-Y 0-N)
- **2024-02-09** Read second time `reading-2`
- **2024-02-09** Reading of substitute waived
- **2024-02-09** Committee substitute agreed to 24107347D-S1 `substitution`
- **2024-02-09** Engrossed by Senate - committee substitute SB556S1 `substitution`
- **2024-02-12** Read third time and passed Senate (40-Y 0-N) `passage, reading-3`
- **2024-02-14** Impact statement from TAX (SB556S1)
- **2024-02-15** Placed on Calendar
- **2024-02-15** Read first time `reading-1`
- **2024-02-15** Referred to Committee on Finance `referral-committee`
- **2024-02-19** Reported from Finance (16-Y 6-N) `committee-passage`
- **2024-02-19** Referred to Committee on Appropriations `referral-committee`
- **2024-02-19** Assigned App. sub: Commerce Agriculture & Natural Resources `referral-committee`
- **2024-02-26** Reported from Appropriations with amendment(s) (19-Y 3-N) `committee-passage`
- **2024-02-27** Read second time `reading-2`
- **2024-02-28** Read third time `reading-3`
- **2024-02-28** Committee amendment agreed to `amendment-passage`
- **2024-02-28** Engrossed by House as amended
- **2024-02-28** Passed House with amendment (73-Y 25-N) `passage`
- **2024-02-28** VOTE: Passage (73-Y 25-N) `passage`
- **2024-02-28** House amendment rejected by Senate (0-Y 39-N) `amendment-failure`
- **2024-02-28** House insisted on amendment
- **2024-02-28** House requested conference committee `referral-committee`
- **2024-02-28** Senate acceded to request (39-Y 0-N)
- **2024-02-28** Conferees appointed by Senate
- **2024-02-28** Senators: Williams Graves, Obenshain, Surovell
- **2024-02-28** Conferees appointed by House
- **2024-02-28** Delegates: Lopez, Mundon King, Bloxom
- **2024-03-06** Amended by conference committee
- **2024-03-06** Conference report agreed to by House (80-Y 18-N) `committee-passage-favorable`
- **2024-03-06** VOTE: Adoption (80-Y 18-N)
- **2024-03-07** Conference report agreed to by Senate (39-Y 1-N) `committee-passage-favorable`
- **2024-03-25** Enrolled `enrolled`
- **2024-03-25** Bill text as passed Senate and House (SB556ER) `passage`
- **2024-03-25** Signed by President `passage`
- **2024-03-26** Signed by Speaker `passage`
- **2024-03-27** Enrolled Bill Communicated to Governor on March 27, 2024 `enrolled`
- **2024-03-27** Governor's Action Deadline 11:59 p.m., April 8, 2024 `executive-receipt`
- **2024-03-31** Impact statement from TAX (SB556ER)
- **2024-04-04** Approved by Governor-Chapter 512 (effective 7/1/24) `executive-signature`
- **2024-04-04** Acts of Assembly Chapter text (CHAP0512)

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/61e92dd6-a85b-4814-8a19-285d3bb829a8`. Confidence: reported (aggregated from official Virginia legislature records).