FOR IMMEDIATE RELEASE:
Wednesday, July 2, 2014
Delegate Barbara Comstock's Research and Development Tax Expense Credit Bill Signed By The Governor At Ceremony In Richmond
Richmond, VA- On Wednesday, July 2, Delegate Barbara Comstock (R-34) joined the Governor, her colleagues in the General Assembly, Northern Virginia business leaders and representatives from Virginia colleges and universities for a bill signing ceremony. Delegate Comstock's legislation, HB 1220, was included and works to expand the state's research and development tax credit to promote research and development, primarily in technology companies.
STATEMENT FROM DELEGATE COMSTOCK:
"I am pleased that the General Assembly passed this legislation this year. My bill, HB 1220, grew out of work by the Northern Virginia Technology Council and other business stakeholders who recognized the importance of this incentive in helping grow our economy. I also was pleased to be awarded the Virginia Chamber of Commerce Competitiveness Award this year in connection with this legislation.
"Businesses rely on predictability and certainty when making long term investment decisions and it is important that they have confidence that incentives that are offered will maintain their value once they are earned. I will continue to work with my fellow elected officials, business leaders and higher education stakeholders to ensure that we enhance Virginia's competitiveness as a preferred location for research investment and activity."