Machinery and tools; classification as intangible personal property, exemption from local tax. (HB613)

Introduced By

Del. Bob Purkey (R-Virginia Beach) with support from co-patrons Del. Ben Cline (R-Amherst), Del. Albert Pollard (D-Lively), Del. Ron Villanueva (R-Virginia Beach), Del. Lee Ware (R-Powhatan), and Sen. Frank Wagner (R-Virginia Beach)

Progress

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

Description

Personal property tax; machinery and tools.  Classifies new investments in machinery and tools for manufacturing, processing and reprocessing, mining, and television broadcasting made after July 1, 2010, as intangible personal property and not subject to local property tax. Amends § 58.1-1101, § 58.1-3507, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/12/2010Committee
01/12/2010Prefiled and ordered printed; offered 01/13/10 10103113D
01/12/2010Referred to Committee on Finance
01/17/2010Impact statement from TAX (HB613)
01/18/2010Assigned Finance sub: #1
01/20/2010Impact statement from DHCD (HB613)
02/03/2010Subcommittee recommends reporting (7-Y 1-N)
02/10/2010Reported from Finance (18-Y 4-N) (see vote tally)
02/12/2010Read first time
02/15/2010Read second time
02/15/2010Amendments by Delegate Purkey agreed to
02/15/2010Pending question ordered
02/15/2010Engrossed by House as amended HB613E
02/15/2010Printed as engrossed 10103113D-E
02/16/2010Pending question ordered
02/16/2010Read third time and defeated by House (48-Y 51-N)
02/16/2010VOTE: --- DEFEATED (48-Y 51-N) (see vote tally)
02/16/2010Reconsideration of defeated action agreed to by House (51-Y 46-N 1-N)
02/16/2010VOTE: --- RECONSIDER (51-Y 46-N 1-A) (see vote tally)
02/16/2010Defeated by House (48-Y 50-N)
02/16/2010VOTE: --- DEFEATED #2 (48-Y 50-N) (see vote tally)
02/18/2010Impact statement from TAX (HB613E)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 9 clips in all, totaling 22 minutes.

Comments

Waldo Jaquith writes:

What do you call the converse of an unfunded mandate?

robert legge writes:

Isn't this under the purview of the local governing boards? Why not simply let them decide how they want to tax such stuff.