Income tax, state; different tax rate on income derived from sale of certain real estate. (SB276)
Introduced By
Sen. Mary Margaret Whipple (D-Arlington)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✗ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; different tax rate on income derived from sale of certain real estate. Provides for the imposition of a 2.3% tax rate on the taxable proceeds from a sale of an apartment building or complex to its tenant organization or to a nonprofit organization, effective for taxable years beginning on and after January 1, 2007. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/10/2006 | Prefiled and ordered printed; offered 01/11/06 065276140 |
| 01/10/2006 | Referred to Committee on Finance |
| 02/08/2006 | Reported from Finance (13-Y 2-N) |
| 02/09/2006 | Constitutional reading dispensed (39-Y 0-N) |
| 02/09/2006 | VOTE: (39-Y 0-N) |
| 02/10/2006 | Read second time and engrossed |
| 02/13/2006 | Read third time and passed Senate (36-Y 3-N) |
| 02/13/2006 | VOTE: (36-Y 3-N) |
| 02/13/2006 | Communicated to House |
| 02/14/2006 | Placed on Calendar |
| 02/14/2006 | Read first time |
| 02/14/2006 | Referred to Committee on Finance |
| 02/16/2006 | Fiscal impact statement from TAX (SB276) |
| 02/28/2006 | Reported from Finance with substitute (9-Y 8-N) |
| 02/28/2006 | Committee substitute printed 067382844-H1 |
| 02/28/2006 | Read second time |
| 03/01/2006 | Read third time |
| 03/01/2006 | Committee substitute agreed to 067382844-H1 |
| 03/01/2006 | Amendment by Delegate Hull agreed to |
| 03/01/2006 | Pending question ordered |
| 03/01/2006 | Defeated by House (41-Y 57-N) |
| 03/01/2006 | VOTE: DEFEATED (41-Y 57-N) |