Monday, December 1, 2008
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Tracking Virginia’s General Assembly
since 2007.
HB197: Recordation tax; refinancing or modification of terms of debt.
Chief Patron
Del.
Bob Marshall (R-Manassas)
Bob Marshall
(R-Manassas)
Served: 1992–
Progress
☑ |
Introduced |
☒ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Status
02/12/2008: Failed to Pass in Committee
View Entire History
Summary
State recordation tax; refinances. Provides that in any case in which a debt is refinanced, the state recordation tax shall only apply to the principal amount of the new debt which is in addition to the original debt. Under current law, only in cases in which a debt is refinanced with the same lender is there an exemption from the tax on the principal amount of the original debt.
The bill also would provide refunds to certain persons who refinanced a debt between January 1, 2007, and June 30, 2008, and paid a state recordation tax on the total principal amount of the new debt. The refund would equal that portion of the state recordation tax that relates to the principal amount of the original debt.
View Full Text »Video
Votes were cast on this bill on the following dates for which Richmond Sunlight has video: 01/24/2008, 01/24/2008 and 02/12/2008.
Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
Tags
Bill Text
Related Bills
Status: Failed to Pass in Committee
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Status: in subcommittee
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