Delegate Mark Keam - Virginia's 35th House District

House Passes Keam-Poindexter Green Jobs Bill


PRESS RELEASE

Friday, February 19, 2010

Contact: Rob Abbot (703) 380-8883

For Immediate Release

Delegate Mark Keam's Bipartisan "Green Jobs" Legislation unanimously adopted by the Virginia House of Delegates

RICHMOND - This morning, the full chamber of the Virginia House of Delegates voted on House Bill 803, which would provide income tax credit of $500 for each renewable energy job that an employer creates in Virginia.

HB 803, as adopted today on a 94 to 0 vote, is a combination of two similar bills that were drafted by Delegate Charles Poindexter (R-Franklin) and Delegate Mark Keam (D-Fairfax) which were combined into one bipartisan package.

Delegate Keam's green jobs proposal was also included as a part of Governor Bob McDonnell's comprehensive "Jobs and Opportunity Agenda." Governor McDonnell and Delegate Keam jointly announced this proposal at a press conference held in Richmond on January 26, 2010.

"As we face devastating budget shortfalls, I hope all of us can agree that we need to increase our tax base to grow the economy," said Keam. "Today, the House took an important step forward by passing a bill to attract good paying jobs to Virginia. Our bipartisan bill would make the entire Commonwealth a green jobs zone and we are open for business."

Delegate Keam had introduced HB 1132 on the first day of this General Assembly session, and it was referred to the Finance Committee where Delegate Keam serves. The Finance Committee combined HB 1132 with HB 803 and reported the new bill favorably on February 10.

The Appropriations Committee subsequently approved it on February 16, sending it to the House floor for today's vote. The measure now heads to the Virginia State Senate where it is expected to pass in the next few weeks. Since this bill is one of Governor McDonnell's priorities, it is expected to be signed into law as soon as the Senate acts to approve it.

Proposed Legislation

 
  • HB 803 would allow a corporate income tax credit of $500 for each new "green job" with an annual salary of $50,000 or more that a business creates in Virginia.
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  • The tax credit would be allowed in the first taxable year in which the job had been filled for the full year, and for the four succeeding taxable years in which the job is continuously filled.
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  • The bill would allow for up to 350 green jobs per taxpayer.
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  • Under HB 803, a "green job" would mean employment in industries relating to the field of renewable, alternative energies, including the manufacture and operation of products used to generate electricity and other forms of energy from alternative sources such as geothermal heating systems, solar heating systems, hydropower systems, wind systems, and biomass and biofuel systems.
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  • The Secretary of Commerce and Trade is required to develop a detailed definition and list of green jobs that qualify for the tax credit and to publicize them on the internet.
  • For more information about House Bill 803, visit: http://leg1.state.va.us/cgi-bin/legp504.exe?101+sum+HB803

    The press conference held on January 26 where Delegate Keam and Governor McDonnell spoke about this proposal begins at time 23:25 on this video clip: http://www.youtube.com/vagovernor#p/a/u/1/jXJymXQDbsI

    Governor McDonnell's press release and Delegate Keam's quote about the jobs agenda is at: http://www.governor.virginia.gov/News/viewRelease.cfm?id=25

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    To follow Delegate Keam's work in Richmond visit: www.www.markkeam.com; www.twitter.com/DelegateKeam; or www.facebook.com/DelegateKeam

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