Personal property tax; classification. (HB617)

Introduced By

Del. Glenn Davis (R-Virginia Beach) with support from co-patron Del. Ron Villanueva (R-Virginia Beach)

Progress

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

Description

Personal property tax; classification. Creates a classification for personal property tax rate purposes of property owned by a business during its first two years of operation, if the business's annual gross revenues do not exceed $100,000. A locality may impose a rate of tax on such property that is lower than the rate on the general class of tangible personal property. Amends § 58.1-3506, of the Code of Virginia.

Outcome

Bill Has Passed

History

DateAction
01/07/2014Committee
01/07/2014Prefiled and ordered printed; offered 01/08/14 14103193D
01/07/2014Referred to Committee on Finance
01/16/2014Impact statement from TAX (HB617)
01/17/2014Assigned Finance sub: Subcommittee #1
01/22/2014Subcommittee recommends reporting (7-Y 3-N)
01/27/2014Reported from Finance (17-Y 5-N) (see vote tally)
01/28/2014Read first time
01/29/2014Read second time and engrossed
01/30/2014Read third time and passed House (88-Y 11-N)
01/30/2014VOTE: PASSAGE (88-Y 11-N) (see vote tally)
01/31/2014Constitutional reading dispensed
01/31/2014Referred to Committee on Finance
02/12/2014Impact statement from TAX (HB617)
02/19/2014Reported from Finance with substitute (16-Y 0-N) (see vote tally)
02/19/2014Committee substitute printed 14105130D-S1
02/20/2014Constitutional reading dispensed (40-Y 0-N)
02/21/2014Read third time
02/21/2014Reading of substitute waived
02/21/2014Committee substitute agreed to 14105130D-S1
02/21/2014Engrossed by Senate - committee substitute HB617S1
02/21/2014Passed Senate with substitute (40-Y 0-N)
02/24/2014Placed on Calendar
02/25/2014Senate substitute agreed to by House 14105130D-S1 (75-Y 18-N 1-A)
02/25/2014VOTE: ADOPTION (75-Y 18-N 1-A) (see vote tally)
02/25/2014Reconsideration of Senate substitute agreed to by House
02/25/2014Passed by for the day
02/26/2014Senate substitute agreed to by House 14105130D-S1 (88-Y 11-N)
02/26/2014VOTE: ADOPTION (88-Y 11-N) (see vote tally)
03/03/2014Enrolled
03/03/2014Bill text as passed House and Senate (HB617ER)
03/03/2014Signed by Speaker
03/06/2014Impact statement from TAX (HB617ER)
03/06/2014Signed by President
03/31/2014G Approved by Governor-Chapter 409 (effective 7/1/14)
03/31/2014G Acts of Assembly Chapter text (CHAP0409)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 4 minutes.