Tourism zones; tax revenues for tourism projects. (HB1756)

Introduced By

Del. Matthew James (D-Portsmouth) with support from co-patrons Del. Delores McQuinn (D-Richmond), Del. Luke Torian (D-Woodbridge), and Sen. Monty Mason (D-Williamsburg)

Progress

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

Description

Tourism zones; tax revenues for tourism projects. Decreases from 80 percent to 70 percent the share of the total cost of a tourism project that the project must have in place before being eligible to receive a percentage of the state and local sales tax revenues generated on the premises of the project, to be used towards debt service to bridge the gap between available debt and equity and the expected costs of the project. Amends § 58.1-3851.1, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/12/2015Committee
01/12/2015Prefiled and ordered printed; offered 01/14/15 15101494D
01/12/2015Referred to Committee on Finance
01/20/2015Impact statement from TAX (HB1756)
01/20/2015Assigned Finance sub: Subcommittee #1
01/28/2015Subcommittee recommends reporting (9-Y 0-N)
02/04/2015Reported from Finance (20-Y 0-N) (see vote tally)
02/06/2015Read first time
02/09/2015Read second time and engrossed
02/10/2015Read third time and passed House BLOCK VOTE (100-Y 0-N)
02/10/2015VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally)
02/11/2015Constitutional reading dispensed
02/11/2015Referred to Committee on Finance
02/13/2015Impact statement from TAX (HB1756)
02/17/2015Reported from Finance (13-Y 0-N) (see vote tally)
02/18/2015Constitutional reading dispensed (38-Y 0-N) (see vote tally)
02/19/2015Read third time
02/19/2015Passed by for the day
02/20/2015Read third time
02/20/2015Passed Senate (37-Y 0-N) (see vote tally)
02/25/2015Enrolled
02/25/2015Bill text as passed House and Senate (HB1756ER)
02/25/2015Signed by Speaker
02/26/2015G Governor's Action Deadline Midnight, Monday, March 30, 2015
02/26/2015Signed by President
02/26/2015Enrolled Bill communicated to Governor on 2/26/15
02/26/2015G Governor's Action Deadline Midnight, Sunday, March 29, 2015
03/05/2015Impact statement from TAX (HB1756ER)
03/16/2015G Approved by Governor-Chapter 203 (effective 7/1/15)
03/16/2015G Acts of Assembly Chapter text (CHAP0203)

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 35 seconds.