Coal tax credit bill earns third veto from McAuliffe
A third consecutive try at reviving a tax credit bill anchored by coal production in southwest Virginia has once again been swiped with a veto by Governor Terry McAuliffe.
The state's chief executive again cited a 2012 Joint Legislative Audit and Review Commission report that said the credit's task of slowing the decline of coal production and employment had failed and that coal job losses were climbing at a higher rate before the credits were created.
The governor had promised a veto when the bill passed the General Assembly in January.
McAuliffe's report said coal companies claimed $637 million in tax credits from 1988 to 2016. In that same time span, coal mining jobs fell from 11,106 to 2,483.
Senators Ben Chafin and Bill Carrico carried the bill through the 2017 session.