Fabio
172 lines
12 KiB
Markdown
172 lines
12 KiB
Markdown
---
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type: "Bill"
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title: "Income tax, state; housing opportunity tax credits."
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description: "Income tax; housing opportunity tax credits.Increases the aggregate annual limit on housing opportunity tax creditsfrom $15 million to the sum of (i) $150 million, (ii) the amountby which the allocation for the previous year exceeds credits actuallyreserved in that year, and (iii) the amount of credits recapturedor disallowed for the previous year. The bill removes the credit'ssunset, which under current law is January 1, 2026; however, the Virginia Housing Development Authority (the Authority), which administersthe credit, would be authorized to reserve credits only for fiscalyears beginning in January 1, 2021, but before January 1, 2026. The bill directs the Authority, which is theagency charged with administering the federal low-income housingtax credit (the federal credit), to reserve a housing opportunitytax credit (the state credit) for a taxpayer whenever it allocatesa federal credit. The reserved state credit must be at least one-halfof all federal credits allocated to the taxpayer over the 10-yearperiod for the federal credit. However, the bill limits the amountof credits a taxpayer may claim in a single taxable year to the lesserof (a) the amount of the federal credit allocated to the taxpayeror (b) one-tenth of the reserved amount. Thebill removes the Authority's power to allow credit applicants tosell credits to other taxpayers."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2022"
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identifier: "SB 47"
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citation: "Virginia SB 47 (2022)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Mamie E. Locke"]
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version_count: 6
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action_count: 89
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vote_count: 20
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first_action: "2021-12-29"
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last_action: "2022-08-04"
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source: "openstates"
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source_identifier: "ocd-bill/757dcb44-481c-4e0a-9312-344ecdb26e32"
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source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+SB47"
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source_hash: "d0ac4646a958641aa4586cdd4c9aa30d734a6fedd0ff0d296493e13278047db1"
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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 SB 47 (2022) — Income tax, state; housing opportunity tax credits.
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Income tax; housing opportunity tax credits.Increases the aggregate annual limit on housing opportunity tax creditsfrom $15 million to the sum of (i) $150 million, (ii) the amountby which the allocation for the previous year exceeds credits actuallyreserved in that year, and (iii) the amount of credits recapturedor disallowed for the previous year. The bill removes the credit'ssunset, which under current law is January 1, 2026; however, the Virginia Housing Development Authority (the Authority), which administersthe credit, would be authorized to reserve credits only for fiscalyears beginning in January 1, 2021, but before January 1, 2026. The bill directs the Authority, which is theagency charged with administering the federal low-income housingtax credit (the federal credit), to reserve a housing opportunitytax credit (the state credit) for a taxpayer whenever it allocatesa federal credit. The reserved state credit must be at least one-halfof all federal credits allocated to the taxpayer over the 10-yearperiod for the federal credit. However, the bill limits the amountof credits a taxpayer may claim in a single taxable year to the lesserof (a) the amount of the federal credit allocated to the taxpayeror (b) one-tenth of the reserved amount. Thebill removes the Authority's power to allow credit applicants tosell credits to other taxpayers.
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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. **CHAP0003** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+CHAP0003)
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2. **SB47** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB47)
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3. **SB47ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB47ER)
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4. **SB47H1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB47H1)
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5. **SB47S1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB47S1)
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6. **SB47S2** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+SB47S2)
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## Votes
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- Constitutional reading dispensed (40-Y 0-N) — **0–0** (fail) · upper
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- Referred from Finance — **0–0** (fail) · lower
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- Senate acceded to request (40-Y 0-N) — **0–0** (fail) · upper
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- Reported from Appropriations with substitute (22-Y 0-N) — **22–0** (pass) · lower
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- Constitutional reading dispensed (40-Y 0-N) — **0–0** (fail) · upper
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- VOTE: Block Vote Passage (100-Y 0-N) — **0–0** (fail) · lower
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- Conference report agreed to by Senate (39-Y 0-N) — **38–0** (pass) · upper
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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- VOTE: Adoption (86-Y 3-N) — **98–0** (pass) · lower
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- Passed Senate (40-Y 0-N) — **40–0** (pass) · upper
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- Passed Senate (40-Y 0-N) — **0–0** (fail) · upper
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- Reported from Finance and Appropriations with substitute (16-Y 0-N) — **0–0** (fail) · upper
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- VOTE: Block Vote Passage (100-Y 0-N) — **99–0** (pass) · lower
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- Reported from Appropriations with substitute (22-Y 0-N) — **0–0** (fail) · lower
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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- Referred from Finance — **0–0** (fail) · lower
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- Reported from Finance and Appropriations with substitute (16-Y 0-N) — **16–0** (pass) · upper
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- House substitute rejected by Senate (1-Y 36-N) — **0–0** (fail) · upper
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- Senate acceded to request (40-Y 0-N) — **40–0** (pass) · upper
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- House substitute rejected by Senate (1-Y 36-N) — **1–36** (fail) · upper
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## Sponsors
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- Mamie E. Locke — primary (person)
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- Jennifer L. McClellan — cosponsor (person)
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- Luke E. Torian — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2021-12-29** Prefiled and ordered printed; offered 01/12/22 22101688D `introduction`
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- **2021-12-29** Referred to Committee on Finance and Appropriations `referral-committee`
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- **2022-02-08** Senate subcommittee amendments and substitutes offered
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- **2022-02-10** Impact statement from TAX (SB47)
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- **2022-02-10** Senate committee, floor amendments and substitutes offered
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- **2022-02-10** Reported from Finance and Appropriations with substitute (16-Y 0-N) `committee-passage`
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- **2022-02-10** Committee substitute printed 22106337D-S1 `substitution`
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- **2022-02-11** Constitutional reading dispensed (40-Y 0-N)
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- **2022-02-14** Read second time `reading-2`
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- **2022-02-14** Reading of substitute waived
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- **2022-02-14** Committee substitute agreed to 22106337D-S1
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- **2022-02-14** Engrossed by Senate - committee substitute SB47S1
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- **2022-02-14** Constitutional reading dispensed (40-Y 0-N)
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- **2022-02-14** Passed Senate (40-Y 0-N) `passage`
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- **2022-02-18** Placed on Calendar
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- **2022-02-18** Read first time `reading-1`
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- **2022-02-18** Referred to Committee on Finance `referral-committee`
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- **2022-02-22** Assigned Finance sub: Subcommittee #1 `referral-committee`
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- **2022-02-23** Referred from Finance
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- **2022-02-23** Referred to Committee on Appropriations `referral-committee`
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- **2022-02-25** Impact statement from TAX (SB47S1)
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- **2022-02-28** House committee, floor amendments and substitutes offered
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- **2022-02-28** Reported from Appropriations with substitute (22-Y 0-N) `committee-passage`
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- **2022-02-28** Committee substitute printed 22107098D-H1 `substitution`
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- **2022-03-01** Read second time `reading-2`
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- **2022-03-02** Read third time `reading-3`
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- **2022-03-02** Committee substitute agreed to 22107098D-H1
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- **2022-03-02** Engrossed by House - committee substitute SB47H1
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- **2022-03-02** Passed House with substitute BLOCK VOTE (100-Y 0-N) `passage`
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- **2022-03-02** VOTE: Block Vote Passage (100-Y 0-N)
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- **2022-03-02** House substitute rejected by Senate (1-Y 36-N)
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- **2022-03-02** House insisted on substitute
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- **2022-03-02** House requested conference committee
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- **2022-03-02** Senate acceded to request (40-Y 0-N)
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- **2022-03-02** Conferees appointed by Senate
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- **2022-03-02** Conferees appointed by House
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- **2022-03-12** Continued to 2022 Sp. Sess. 1 pursuant to HJR455
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- **2022-06-01** Amended by conference committee
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- **2022-06-01** Conference substitute printed 22208270D-S2
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- **2022-06-01** Substitute bill reprinted 22208270D-S2
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- **2022-06-17** Passed by temporarily
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- **2022-06-17** Conference report agreed to by Senate (39-Y 0-N)
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- **2022-06-17** Conference report agreed to by House (86-Y 3-N)
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- **2022-06-17** VOTE: Adoption (86-Y 3-N)
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- **2022-07-20** Enrolled
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- **2022-07-20** Signed by Speaker
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- **2022-07-21** Signed by President
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- **2022-07-22** Impact statement from TAX (SB47ER)
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- **2022-07-28** Enrolled Bill Communicated to Governor on July 28, 2022
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- **2022-07-28** Governor's Action Deadline 11:59 p.m., August 4, 2022
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- **2022-08-04** Approved by Governor-Chapter 3 (effective on the 1st day of the 4th month following the month `executive-signature`
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- **2022-08-04** of adjournment of the 2022 Special Session l)
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- **2021-12-29** Prefiled and ordered printed; offered 01/12/22 22101688D `introduction`
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- **2021-12-29** Referred to Committee on Finance and Appropriations `referral-committee`
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- **2022-02-08** Senate subcommittee amendments and substitutes offered
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- **2022-02-10** Impact statement from TAX (SB47)
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- **2022-02-10** Senate committee, floor amendments and substitutes offered
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- **2022-02-10** Reported from Finance and Appropriations with substitute (16-Y 0-N) `committee-passage`
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- **2022-02-10** Committee substitute printed 22106337D-S1 `substitution`
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- **2022-02-11** Constitutional reading dispensed (40-Y 0-N)
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- **2022-02-14** Read second time `reading-2`
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- **2022-02-14** Reading of substitute waived
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- **2022-02-14** Committee substitute agreed to 22106337D-S1
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- **2022-02-14** Engrossed by Senate - committee substitute SB47S1
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- **2022-02-14** Constitutional reading dispensed (40-Y 0-N)
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- **2022-02-14** Passed Senate (40-Y 0-N) `passage`
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- **2022-02-18** Placed on Calendar
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- **2022-02-18** Read first time `reading-1`
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- **2022-02-18** Referred to Committee on Finance `referral-committee`
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- **2022-02-22** Assigned Finance sub: Subcommittee #1 `referral-committee`
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- **2022-02-23** Referred from Finance
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- **2022-02-23** Referred to Committee on Appropriations `referral-committee`
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- **2022-02-25** Impact statement from TAX (SB47S1)
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- **2022-02-28** House committee, floor amendments and substitutes offered
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- **2022-02-28** Reported from Appropriations with substitute (22-Y 0-N) `committee-passage`
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- **2022-02-28** Committee substitute printed 22107098D-H1 `substitution`
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- **2022-03-01** Read second time `reading-2`
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- **2022-03-02** Read third time `reading-3`
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- **2022-03-02** Committee substitute agreed to 22107098D-H1
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- **2022-03-02** Engrossed by House - committee substitute SB47H1
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- **2022-03-02** Passed House with substitute BLOCK VOTE (100-Y 0-N) `passage`
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- **2022-03-02** VOTE: Block Vote Passage (100-Y 0-N)
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- **2022-03-02** House substitute rejected by Senate (1-Y 36-N)
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- **2022-03-02** House insisted on substitute
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- **2022-03-02** House requested conference committee
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- **2022-03-02** Senate acceded to request (40-Y 0-N)
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- **2022-03-02** Conferees appointed by Senate
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- **2022-03-02** Conferees appointed by House
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- **2022-03-12** Continued to 2022 Sp. Sess. 1 pursuant to HJR455
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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/757dcb44-481c-4e0a-9312-344ecdb26e32`. Confidence: reported (aggregated from official Virginia legislature records).
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