HB2634: Tax legislation; requires a sunset date of no more than four years thereon.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 30-19.1:11 as follows:
§ 30-19.1:11. Legislation increasing taxes.
Any bill proposing to (i) add new state or local, or both, taxes or (ii) increase any state or local, or both, tax rates, shall contain a sunset date of no more than four years, in order for the General Assembly to review such taxes, if enacted, during the session prior to the sunset date taking effect.
