Tangible personal property; miscellaneous and incidental property. (SB1127)

Introduced By

Sen. Emmett Hanger (R-Mount Solon) with support from co-patron Sen. Frank Ruff (R-Clarksville)

Progress

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

Description

Tangible personal property; miscellaneous and incidental property. Declares miscellaneous and incidental property with an original cost of less than $250 as a separate classification of tangible personal property. The bill clarifies that when reporting such property, a taxpayer may provide an aggregate estimate of the total value of such property instead of an itemized list. The bill also authorizes a locality to tax such property at a separate rate of taxation not to exceed the rate imposed on general tangible personal property. Amends § 58.1-3506, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/13/2015Prefiled and ordered printed; offered 01/14/15 15102224D
01/13/2015Referred to Committee on Finance
01/19/2015Impact statement from TAX (SB1127)
01/27/2015Reported from Finance with substitute (14-Y 0-N) (see vote tally)
01/27/2015Committee substitute printed 15104012D-S1
01/28/2015Incorporates SB1243
01/28/2015Constitutional reading dispensed (38-Y 0-N) (see vote tally)
01/29/2015Read second time
01/29/2015Reading of substitute waived
01/29/2015Committee substitute agreed to 15104012D-S1
01/29/2015Engrossed by Senate - committee substitute SB1127S1
01/30/2015Read third time and passed Senate (38-Y 0-N) (see vote tally)
02/06/2015Placed on Calendar
02/06/2015Read first time
02/06/2015Referred to Committee on Finance
02/09/2015Impact statement from TAX (SB1127S1)
02/11/2015Reported from Finance (21-Y 0-N) (see vote tally)
02/12/2015Read second time
02/13/2015Read third time
02/13/2015Passed House BLOCK VOTE (97-Y 0-N)
02/13/2015VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/17/2015Enrolled
02/17/2015Bill text as passed Senate and House (SB1127ER)
02/17/2015Signed by Speaker
02/19/2015Impact statement from TAX (SB1127ER)
02/20/2015Signed by President
02/23/2015G Governor's Action Deadline Midnight, Monday, March 30, 2015
02/23/2015Enrolled Bill Communicated to Governor on 2/23/15
02/23/2015G Governor's Action Deadline Midnight, Sunday, March 29, 2015
03/26/2015G Approved by Governor-Chapter 593 (effective 7/1/15)
03/26/2015G Acts of Assembly Chapter text (CHAP0593)

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 1 minute.

Duplicate Bills

The following bills are identical to this one: SB1243.