Machinery and tools; separate classification for local taxation. (SB1315)

Introduced By

Sen. Mamie Locke (D-Hampton)

Description

Separate classification of machinery and tools. Declares machinery and tools used directly in the manufacture of precision investment castings to be a separate classification of machinery and tools for local taxation. Localities may tax property so classified at rates or assessment ratios that are less than those for other machinery and tools. Amends § 58.1-3508.3 (“Separate classification of machinery and tools used directly in precision investment castings.”), of the Code of Virginia. View Full Text »

Outcome

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