Thursday, December 4, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB2225: Publications tax; created, revenue to be deposited in Water Quality Improvement Fund.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Chapter 17 of Title 58.1 an article numbered 8, consisting of a section numbered 58.1-1731 as follows:
§ 58.1-1731. Tax on publications; Virginia Water Quality Improvement Fund.
A. A tax of $0.01 is hereby imposed upon each newspaper, magazine, newsletter, or other publication issued daily or regularly at average intervals not exceeding three months, and delivered or sold in the Commonwealth. The Tax Commissioner shall promulgate rules and regulations for the registration of applicable publishers, the procedures for filing returns, and methods of paying the tax authorized by this section.
B. The Department's administrative expenses for systems development, forms, wages, postage, and printing resulting from this tax shall be retained by the Tax Commissioner on behalf of the Department annually when he determines the total amount of revenues generated by the tax and reports the same to the State Treasurer. The remaining amount shall be credited to the Virginia Water Quality Improvement Fund (§ 10.1-2128 et seq.).
2. That the provisions of this act shall be effective for taxable years beginning on or after January 1, 2008.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.