Recordation and grantor taxes; penalty for misrepresentation. (SB1157)

Introduced By

Progress

√	Introduced
√	Passed Committee
√	Passed House
√	Passed Senate
√	Signed by Governor
√	Became Law

Description

Recordation and grantor taxes; basis. Changes the basis on which recordation and grantor taxes are calculated on the transfer of real estate to the actual consideration for the real estate. Under current law the basis is the consideration for the real estate or the value of the real estate, whichever is greater. The provisions of the bill would become effective on July 1, 2010. Amends § 58.1-812 (“Payment prerequisite to recordation; exceptions; assessment and collection of tax; penalty for misrepresentation.”), of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

View Bill's History

01/13/2009 Prefiled and ordered printed; offered 01/14/09 092849324
01/13/2009 Referred to Committee on Finance
01/19/2009 Impact statement from TAX (SB1157)
02/04/2009 Reported from Finance with substitute (16-Y 0-N) (see vote tally)
02/04/2009 Committee substitute printed 096021324-S1
02/05/2009 Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/06/2009 Read second time
02/06/2009 Reading of substitute waived
02/06/2009 Committee substitute agreed to 096021324-S1
02/06/2009 Engrossed by Senate - committee substitute SB1157S1
02/09/2009 Passed by for the day
02/10/2009 Engrossed by Senate as amended SB1157E
02/10/2009 Impact statement from TAX (SB1157S1)
02/10/2009 Engrossment reconsidered by Senate (40-Y 0-N) (see vote tally)
02/10/2009 Passed by temporarily
02/10/2009 Reading of amendments waived
02/10/2009 Amendments by Senator Cuccinelli agreed to
02/10/2009 Engrossed by Senate as amended SB1157ES1
02/10/2009 Printed as engrossed 096021324-ES1
02/10/2009 Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/10/2009 Passed Senate (39-Y 1-N) (see vote tally)
02/11/2009 Assigned Finance sub: 2
02/11/2009 Subcommittee recommends reporting
02/13/2009 Placed on Calendar
02/13/2009 Read first time
02/13/2009 Referred to Committee on Finance
02/13/2009 Assigned Finance sub: 2
02/13/2009 Subcommittee recommends reporting
02/16/2009 Reported from Finance with substitute (22-Y 0-N) (see vote tally)
02/16/2009 Committee substitute printed 092639548-H1
02/17/2009 Read second time
02/18/2009 Read third time
02/18/2009 Committee substitute agreed to 092639548-H1
02/18/2009 Engrossed by House - committee substitute SB1157H1
02/18/2009 Passed House with substitute (95-Y 2-N)
02/18/2009 VOTE: --- PASSAGE (95-Y 2-N) (see vote tally)
02/18/2009 House substitute rejected by Senate (1-Y 39-N) (see vote tally)
02/18/2009 House insisted on substitute
02/18/2009 House requested conference committee
02/18/2009 Senate acceded to request (38-Y 0-N) (see vote tally)
02/18/2009 Conferees appointed by Senate
02/18/2009 Senators: Saslaw, Norment, Houck
02/18/2009 Conferees appointed by House
02/18/2009 Delegates: Hugo, Cline, Melvin
02/26/2009 Conference substitute printed 092939324-S2
02/27/2009 Conference report agreed to by Senate (39-Y 0-N) (see vote tally)
02/27/2009 Passed by temporarily
02/27/2009 Conference report agreed to by House (95-Y 1-N)
02/27/2009 VOTE: --- ADOPTION (95-Y 1-N) (see vote tally)
03/09/2009 Enrolled
03/09/2009 Bill text as passed Senate and House (SB1157ER)
03/09/2009 Signed by President
03/11/2009 Signed by Speaker
03/20/2009 Impact statement from TAX (SB1157ER)
03/30/2009 G Approved by Governor-Chapter 686 (effective 7/1/09)
03/30/2009 G Acts of Assembly Chapter text (CHAP0686)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 2 minutes. Click the image of the video to play it.

Poll Results

No Richmond Sunlight visitors voted on this bill while voting was open.

Bill Text

Keep track of the status of this bill as it moves through the General Assembly—subscribe via RSS.