Recordation tax; additional distribution to localities. (HB67)

Introduced By

Sen. Lynwood Lewis (D-Accomac)

Progress

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

Description

State recordation tax; additional distribution to localities. Provides that 50% of the amount of state recordation taxes collected that are attributable to deeds and other instruments recorded shall be apportioned and distributed annually to or for each such county or city, beginning June 30, 2007. This provision applies to any county or city that has a Purchase of Development Rights program in effect, or has filed a statement of intent with the Virginia Department of Agriculture and Consumer Services that it will create such a program within three years or less from the date of such filing. Amends § 58.1-816, of the Code of Virginia. Read the Bill »

Status

01/18/2006: Awaiting a Vote in the Finance Committee

History

DateAction
12/15/2005Prefiled and ordered printed; offered 01/11/06 065130378
12/15/2005Referred to Committee on Finance
01/18/2006Assigned to Finance sub-committee: #1 (Orrock)
01/26/2006Fiscal impact statement from TAX (HB67)
02/06/2006Continued to 2007 in Finance