Machinery and Tools Investment Grant Program; created. (SB549)

Introduced By

Sen. Frank Wagner (R-Virginia Beach) with support from 9 copatrons, whose average partisan position is:

Those copatrons are Sen. Chuck Colgan (D-Manassas), Sen. Emmett Hanger (R-Mount Solon), Sen. Dave Marsden (D-Burke), Sen. Jeff McWaters (R-Virginia Beach), Sen. Steve Newman (R-Forest), Sen. Phil Puckett (D-Tazewell), Sen. Frank Ruff (R-Clarksville), Sen. Bill Stanley (R-Moneta), Sen. John Watkins (R-Midlothian)

Progress

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

Description

Intangible personal property tax; machinery and tools.  Classifies as intangible personal property, and therefore subject solely to state taxation, machinery and tools purchased on or after July 1, 2012, that have not been in service for more than three years. Amends § 58.1-3507, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/16/2012Presented and ordered printed 12103540D
01/16/2012Referred to Committee on Finance
01/23/2012Impact statement from TAX (SB549)
02/09/2012Reported from Finance with substitute (13-Y 2-N) (see vote tally)
02/09/2012Committee substitute printed 12105252D-S1
02/13/2012Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/14/2012Read second time
02/14/2012Committee substitute rejected 12105252D-S1
02/14/2012Floor substitute printed 12105399D-S2 (Wagner)
02/14/2012Reading of substitute waived
02/14/2012Substitute by Senator Wagner agreed to 12105399D-S2
02/14/2012Engrossed by Senate - floor substitute SB549S2
02/14/2012Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/14/2012Passed Senate (28-Y 12-N) (see vote tally)
02/16/2012Placed on Calendar
02/16/2012Read first time
02/16/2012Referred to Committee on Appropriations
02/17/2012Assigned App. sub: Economic Development, Agriculture and Natural Resources
02/20/2012Impact statement from TAX (SB549S2)
03/10/2012Left in Appropriations

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 7 minutes.

Duplicate Bills

The following bills are identical to this one: HB512.