Gas wells and related improvements; may be assessed on an annual basis in Buchanan County. (SB1507)

Introduced By

Sen. Phil Puckett (D-Tazewell)

Description

Taxation of gases; Buchanan County. Provides that gas wells and related improvements may be assessed on an annual basis in Buchanan County subject to the approval of the Board of Supervisors, but requires that gas wells and related improvements be reassessed in the general reassessment of property in the county. The bill also provides that beginning July 1, 2009, the local license tax on gases severed in Buchanan County would be measured by the actual purchase price paid for the gas at the time of the first arms-length sale less a deduction of $0.40 for each 1,000 cubic feet (MCF) of gas included in the arms-length sale. Amends § 58.1-3286 (“Mineral lands to be specially and separately assessed; severance tax.”), § 58.1-3712 (“Counties and cities authorized to levy severance tax on coal and gases.”), of the Code of Virginia. View Full Text »

Outcome

View Bill's History

• 01/23/2009 Presented and ordered printed 092884300
• 01/23/2009 Referred to Committee on Finance
• 01/25/2009 Impact statement from TAX (SB1507)
• 02/05/2009 Reported from Finance with substitute (16-Y 0-N) (see vote tally)
• 02/05/2009 Committee substitute printed 092918300-S1
• 02/09/2009 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
• 02/10/2009 Impact statement from TAX (SB1507S1)
• 02/10/2009 Read second time
• 02/10/2009 Reading of substitute waived
• 02/10/2009 Committee substitute agreed to 092918300-S1
• 02/10/2009 Engrossed by Senate - committee substitute SB1507S1
• 02/10/2009 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
• 02/10/2009 Passed Senate (40-Y 0-N) (see vote tally)
• 02/13/2009 Placed on Calendar
• 02/13/2009 Read first time
• 02/13/2009 Referred to Committee on Finance
• 02/16/2009 Reported from Finance (22-Y 0-N) (see vote tally)
• 02/17/2009 Read second time
• 02/18/2009 Read third time
• 02/18/2009 Passed House BLOCK VOTE (98-Y 0-N)
• 02/18/2009 VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
• 02/23/2009 Enrolled
• 02/23/2009 Bill text as passed Senate and House (SB1507ER)
• 02/23/2009 Impact statement from TAX (SB1507ER)
• 02/24/2009 Signed by Speaker
• 02/25/2009 Signed by President
• 03/30/2009 G Approved by Governor-Chapter 770 (effective 7/1/09)
• 03/30/2009 G Acts of Assembly Chapter text (CHAP0770)

Map

This bill mentions Buchanan.

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