Taxpayer Surplus Relief Fund; established to provide tax relief. (HB1967)
Introduced By
Del. Jimmie Massie (R-Richmond)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Excess funds in the Revenue Stabilization Fund. Establishes a mechanism to provide tax relief to Virginia taxpayers when the Auditor of Public Accounts determines the Revenue Stabilization Fund has reached its maximum size as provided in the Constitution of Virginia. The excess funds must equal at least $50 million and will be deposited in a special nonreverting fund titled the Virginia Taxpayer Surplus Relief Fund and must be used by the next session of the General Assembly to provide tax relief to low- and middle-income taxpayers throughout the Commonwealth. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/13/2009 | Committee |
01/13/2009 | Prefiled and ordered printed; offered 01/14/09 098357617 |
01/13/2009 | Referred to Committee on Appropriations |
02/05/2009 | Impact statement from DPB (HB1967) |
02/10/2009 | Left in Appropriations |
Comments
The Virginia Interfaith Center opposes this bill.