Fabio
103 lines
6.7 KiB
Markdown
103 lines
6.7 KiB
Markdown
---
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type: "Bill"
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title: "Income tax, state and corporate; subtraction for Virginia venture capital account investment."
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description: "Establishes an individual and corporate income tax subtraction for income derived from an investment in a Virginia venture capital account, defined in the bill as an investment fund that is certified by the Department of Taxation as investing at least 50 percent of its investments in qualified portfolio companies and employing at least one investor with at least four years' experience in venture capital investment or substantially equivalent experience. The bill defines \"qualified portfolio company\" as a company that has its principal place of business in the Commonwealth and that has a primary purpose of production, sale, research, or development of a product or service and provides equity in exchange for the investment. An income tax subtraction would be available only for an investment made on or after January 1, 2018, but before December 31, 2023."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2017"
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identifier: "HB 2074"
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citation: "Virginia HB 2074 (2017)"
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classification: ["bill"]
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subjects: ["Corporations", "Income Tax", "Study Commissions", "Committees and Reports", "Taxation"]
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status: "enacted"
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primary_sponsors: ["Nick Rush"]
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version_count: 6
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action_count: 29
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vote_count: 10
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first_action: "2017-01-10"
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last_action: "2017-03-24"
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source: "openstates"
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source_identifier: "ocd-bill/6a43348f-bdfd-4acd-9123-5885d5cf85a5"
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source_url: "http://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+HB2074"
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source_hash: "0ea2a1874af0c68b06254e6d2b30c1cbbc0414b590a188e056155be9375b77e1"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-va"]
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---
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# Virginia HB 2074 (2017) — Income tax, state and corporate; subtraction for Virginia venture capital account investment.
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Establishes an individual and corporate income tax subtraction for income derived from an investment in a Virginia venture capital account, defined in the bill as an investment fund that is certified by the Department of Taxation as investing at least 50 percent of its investments in qualified portfolio companies and employing at least one investor with at least four years' experience in venture capital investment or substantially equivalent experience. The bill defines "qualified portfolio company" as a company that has its principal place of business in the Commonwealth and that has a primary purpose of production, sale, research, or development of a product or service and provides equity in exchange for the investment. An income tax subtraction would be available only for an investment made on or after January 1, 2018, but before December 31, 2023.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Governor: Acts of Assembly Chapter text (CHAP0762)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+CHAP0762)
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2. **House: Bill text as passed House and Senate (HB2074ER)** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2074ER)
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3. **House: Conference substitute printed 17105744D-H1** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2074H1)
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4. **House: Prefiled and ordered printed; offered 01/11/17 17101753D** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2074)
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5. **House: Printed as engrossed 17101753D-E** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2074E)
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6. **Senate: Committee substitute printed 17105512D-S1** (committee substitute) — [source](http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2074S1)
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## Votes
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- Reported from Finance with substitute — **16–0** (pass) · legislature
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- Senate insisted on substitute — **40–0** (pass) · legislature
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- Reported from Finance with amendments — **22–0** (pass) · legislature
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- Senate substitute rejected by House 17105512D-S1 — **1–96** (fail) · legislature
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- Read third time and passed House BLOCK VOTE — **97–0** (pass) · legislature
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- Constitutional reading dispensed — **39–0** (pass) · legislature
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- Subcommittee recommends reporting — **11–0** (pass) · legislature
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- Conference report agreed to by House — **93–0** (pass) · legislature
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- Conference report agreed to by Senate — **40–0** (pass) · legislature
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- Passed Senate with substitute — **40–0** (pass) · legislature
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## Sponsors
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- Nick Rush — primary (person)
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- Christopher T. Head — cosponsor (person)
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- Glenn R. Davis — cosponsor (person)
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- R. Steven Landes — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2017-01-10** Prefiled and ordered printed; offered 01/11/17 17101753D `introduction`
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- **2017-01-10** Referred to Committee on Finance `referral-committee`
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- **2017-01-19** Assigned Finance sub: Subcommittee #2 `referral-committee`
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- **2017-02-03** Read first time `reading-1`
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- **2017-02-06** Read second time `reading-2`
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- **2017-02-06** Committee amendments agreed to
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- **2017-02-06** Engrossed by House as amended HB2074E
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- **2017-02-06** Printed as engrossed 17101753D-E
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- **2017-02-07** Read third time and passed House BLOCK VOTE (97-Y 0-N) `passage, reading-3`
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- **2017-02-08** Constitutional reading dispensed
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- **2017-02-08** Referred to Committee on Finance `referral-committee`
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- **2017-02-17** Read third time `reading-3`
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- **2017-02-17** Reading of substitute waived
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- **2017-02-17** Committee substitute agreed to 17105512D-S1
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- **2017-02-17** Engrossed by Senate - committee substitute HB2074S1
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- **2017-02-21** Placed on Calendar
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- **2017-02-21** Senate substitute rejected by House 17105512D-S1 (1-Y 96-N)
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- **2017-02-22** Senate requested conference committee
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- **2017-02-23** House acceded to request
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- **2017-02-23** Conferees appointed by House
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- **2017-02-23** Conferees appointed by Senate
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- **2017-02-24** Conference substitute printed 17105744D-H1
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- **2017-02-24** Conference report agreed to by House (93-Y 0-N)
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- **2017-03-07** Enrolled
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- **2017-03-07** Signed by Speaker
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- **2017-03-10** Signed by President
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- **2017-03-13** Enrolled Bill communicated to Governor on 3/13/17
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- **2017-03-13** Governor's Action Deadline Midnight, March 27, 2017
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- **2017-03-24** Approved by Governor-Chapter 762 (effective 7/1/17) `executive-signature`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/6a43348f-bdfd-4acd-9123-5885d5cf85a5`. Confidence: reported (aggregated from official Virginia legislature records).
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