Income tax, state; different tax rate on income derived from sale of certain real estate. (SB276)

Introduced By

Sen. Mary Margaret Whipple (D-Arlington)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Failed


01/10/2006Prefiled and ordered printed; offered 01/11/06 065276140
01/10/2006Referred to Committee on Finance
02/08/2006Reported from Finance (13-Y 2-N)
02/09/2006Constitutional reading dispensed (39-Y 0-N)
02/09/2006VOTE: (39-Y 0-N)
02/10/2006Read second time and engrossed
02/13/2006Read third time and passed Senate (36-Y 3-N)
02/13/2006VOTE: (36-Y 3-N)
02/13/2006Communicated to House
02/14/2006Placed on Calendar
02/14/2006Read first time
02/14/2006Referred to Committee on Finance
02/16/2006Fiscal impact statement from TAX (SB276)
02/28/2006Reported from Finance with substitute (9-Y 8-N)
02/28/2006Committee substitute printed 067382844-H1
02/28/2006Read second time
03/01/2006Read third time
03/01/2006Committee substitute agreed to 067382844-H1
03/01/2006Amendment by Delegate Hull agreed to
03/01/2006Pending question ordered
03/01/2006Defeated by House (41-Y 57-N)
03/01/2006VOTE: DEFEATED (41-Y 57-N)