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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, February 14, 1992                   TAG: 9202140352
SECTION: VIRGINIA                    PAGE: B3   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

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GENERAL ASSEMBLY

Taxes: The House voted 56-40 to pass a bill exempting from taxation the first$250 of interest income and giving businesses an investment tax credit, beginning in 1994.

Recordation: The House voted 47-50 to kill a bill delaying until 1994 the return of $40 million in real estate recordation taxes to localities, but reconsidered and passed the bill 54-43.

Substance abuse credit: The House voted 84-13 to pass a bill repealing a tax credit on substance abuse advertising.

Housing credit: The House voted 85-13 to pass a bill delaying for two years a low-income housing credit.

Withholding: The House voted 77-20 to delay for two years a change in income-tax withholding that would have cost the state $20 million over two years.

Discharge fees: The House voted 89-1 to pass a bill imposing fees for industrial air discharge permits, and 66-29 to pass a bill imposing fees for industrial water discharge permits.

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