Recordation tax; expands exemption statewide. (SB1309)

Introduced By

Sen. Robert Hurt (R-Chatham) with support from co-patrons Del. Kathy Byron (R-Lynchburg), and Del. Danny Marshall (R-Danville)

Progress

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

Description

Recordation tax; exemption. Expands the recordation tax exemption statewide for an organization exempt from taxation under 501 (c) (3) of the Internal Revenue Code that is organized and operated primarily to acquire land and purchase materials to erect or rehabilitate low-cost homes on such land, which homes are sold at cost to persons who otherwise would be unable to afford to buy a home through conventional means, when the organization is the grantor. Under current law only such organizations located in the City of Lynchburg or Amherst County are exempt. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/14/2009Prefiled and ordered printed; offered 01/14/09 096601250
01/14/2009Referred to Committee on Finance
01/25/2009Impact statement from TAX (SB1309)
01/28/2009Reported from Finance (14-Y 2-N) (see vote tally)
01/29/2009Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/30/2009Read second time and engrossed
02/02/2009Read third time and passed Senate (38-Y 1-N) (see vote tally)
02/09/2009Impact statement from TAX (SB1309)
02/11/2009Placed on Calendar
02/11/2009Read first time
02/11/2009Referred to Committee on Finance
02/11/2009Assigned Finance sub: 2
02/11/2009Subcommittee recommends reporting
02/16/2009Reported from Finance (22-Y 0-N) (see vote tally)
02/17/2009Read second time
02/18/2009Read third time
02/18/2009Passed House (88-Y 8-N)
02/18/2009VOTE: --- PASSAGE (88-Y 8-N) (see vote tally)
02/23/2009Enrolled
02/23/2009Bill text as passed Senate and House (SB1309ER)
02/23/2009Impact statement from TAX (SB1309ER)
02/24/2009Signed by Speaker
02/25/2009Signed by President
03/27/2009G Approved by Governor-Chapter 574 (effective 7/1/09)
03/27/2009G Acts of Assembly Chapter text (CHAP0574)