VASBP Applauds the General Assembly on Passage of HB 2197
Fairfax, VA, February 22, 2011- The Virginia Small Business Partnership applauds the Virginia General Assembly on its recent passage of HB 2197, the Income Tax; Tele-work Expenses Tax Credit introduced by Delegate Barbara Comstock (R-34). Last week, HB 2197 passed the Virginia State Senate and now is waiting to be signed in to law by Governor Robert F. McDonnell.
HB 2197 creates an individual and corporate income tax credit for employers who conduct tele-work assessments. In addition, HB 2197 would create an individual and corporate income tax credit for employers who incur eligible tele-work expenses.
HB 2197 is the type of pro-business legislation that will help Virginia continue to foster a business friendly environment. As part of the Official Findings from the 2010 Virginia Small Business Summit, a tax credit for businesses that allows employees to tele-commute was strongly encouraged by small business leaders. “The passage of HB 2197 by the General Assembly shows that Virginia is always striving to be the top state for business,” said Paul A. Miller, Chairman, Virginia Small Business Partnership. “Allowing a tax credit for businesses that offer their employees to tele-commute is an idea that will help businesses grow and prosper,” he continued.
The Virginia Small Business Partnership supported the notion of a tax credit for companies that allowed tele-work. Upon introduction by Delegate Comstock, the VASBP encouraged lawmakers to support this commonsense solution.
HB2197 passed the Virginia House of Delegates 89-1 and the Virginia Senate 40-0. The Virginia Small Business Partnership applauds the legislators who understood the importance of this legislation and voted in support.