Machinery and tools taxation; exempts certified pollution control equipment and facilities. (HB124)
Introduced By
Del. Bob Purkey (R-Virginia Beach) with support from co-patron Del. Brian Moran (D-Alexandria)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Machinery and tools taxation. Exempts certified pollution control equipment and facilities, placed in service on or after January 1, 2010, from state and local taxation pursuant to Article X, Section 6 (d) of the Constitution of Virginia. The measure also provides that certain machinery and tools placed in service on or after January 1, 2010, are taxable as intangible personal property, thereby excluding such property from local taxation. Amends § 58.1-1101 (“Classification.”), § 58.1-3507 (“Certain machinery and tools segregated for local taxation only; notice prior to change in valuation, hearing.”), § 58.1-3660 (“(Effective for tax years beginning before January 1, 2011) Certified pollution control equipment and facilities.”), of the Code of Virginia. View Full Text »
