Recordation tax; securing of loan by locality for certain borrower. (HB339)
Introduced By
Del. Brenda Pogge (R-Williamsburg)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Recordation tax; exemption. Provides an exemption from ecordation tax for any deed of trust that secures a loan made by a locality to a borrower whose household income does not exceed 80% of the area median household income established by the U.S. Department of Housing and Urban Development for the purpose of erecting or rehabilitating a home for such borrower, including the purchase of land for such home. Read the Bill »
Status
04/01/2016: signed by governor
History
| Date | Action |
|---|---|
| 01/05/2016 | Committee |
| 01/05/2016 | Prefiled and ordered printed; offered 01/13/16 16101670D |
| 01/05/2016 | Referred to Committee on Finance |
| 01/05/2016 | Introduced bill reprinted 16101670D |
| 01/30/2016 | Impact statement from TAX (HB339) |
| 02/09/2016 | Assigned Finance sub: Subcommittee #2 |
| 02/10/2016 | Subcommittee recommends reporting (10-Y 0-N) |
| 02/15/2016 | Reported from Finance (21-Y 1-N) (see vote tally) |
| 02/16/2016 | Read first time |
| 02/17/2016 | Read second time and engrossed |
| 02/18/2016 | Read third time and passed House (95-Y 1-N) |
| 02/18/2016 | VOTE: PASSAGE (95-Y 1-N) (see vote tally) |
| 02/19/2016 | Constitutional reading dispensed |
| 02/19/2016 | Referred to Committee on Finance |
| 02/23/2016 | Impact statement from TAX (HB339) |
| 03/01/2016 | Reported from Finance with substitute (15-Y 0-N) (see vote tally) |
| 03/01/2016 | Committee substitute printed 16105941D-S1 |
| 03/02/2016 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 03/02/2016 | Read third time |
| 03/02/2016 | Reading of substitute waived |
| 03/02/2016 | Committee substitute agreed to 16105941D-S1 |
| 03/02/2016 | Engrossed by Senate - committee substitute HB339S1 |
| 03/02/2016 | Passed Senate with substitute (40-Y 0-N) (see vote tally) |
| 03/02/2016 | Senate substitute agreed to by House 16105941D-S1 (95-Y 0-N) |
| 03/02/2016 | VOTE: ADOPTION (95-Y 0-N) (see vote tally) |
| 03/03/2016 | Enrolled |
| 03/03/2016 | Bill text as passed House and Senate (HB339ER) |
| 03/03/2016 | Signed by Speaker |
| 03/06/2016 | Signed by President |
| 03/07/2016 | Impact statement from TAX (HB339ER) |
| 03/07/2016 | Enrolled Bill communicated to Governor on 3/7/2016 |
| 03/07/2016 | G Governor's Action Deadline Midnight, Sunday, April 10, 2016 |
| 04/01/2016 | G Approved by Governor-Chapter 662 (effective 7/1/16) |
| 04/01/2016 | G Acts of Assembly Chapter text (CHAP0662) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 3 clips in all, totaling 2 minutes.
Transcript
This is a transcript of the video clips in which this bill is discussed.
Del. Bill Howell (R-Fredericksburg): WILL SAY AYE, THOSE OPPOSED, NO.
[Unknown]: THE BILL IS ENGROSSED AND PASSED TO THE THIRD READING. HOUSE BILLS 1191, 1305, BOTH HAVE BEEN TAKEN BY FOR THE DAY. ACCORDINGLY, THAT COMPLETES TODAY'S CALENDAR. DOES THE CLERK HAVE ANY 23450U7BS -- ANNOUNCEMENTS OR COMMUNICATIONS.
CONTINUING WITH THE SUPPLEMENTAL, NEXT UP, HOUSE BILL 339, A BILL TO AMEND AND REENACT A SECTION OF THE CODE OF VIRGINIA RELATING TO RECORDATION TAX EXEMPTION. PASS TSDZ ORANGELY FEBRUARY 18, PASSED WITH A SUBSTITUTE ON MARCH 2ND.
Del. Bill Howell (R-Fredericksburg): THE GENTLEWOMAN FROM JAMES CITY COUNTY, MISS POGGE.
Del. Brenda Pogge (R-Williamsburg): THANK YOU, MR. SPEAKER. HOUSE BILL 339 WAS THE BILL CONCERNING RECORDATION TAX, THAT THE LOCAL ITS COULD WAIVE -- LOCALITIES COULD WAIVE IN THE EVENT SELLING A HOME FOR REHABILITATION PURPOSES TO A LOW-INCOME BORROWER. ON ITS WAY TO THE SENATE, THE TREASURERS ASKED FOR AN AMENDMENT, WHICH I AGREED TO, WHICH WOULD ALLOW ALSO FOR THE WAIVING OF THE GRANTOR'S TAX IN THE EVENT THAT A LOCALITY IS SELLING A TAX-DELINQUENT PROPERTY. I ASK THAT YOU ACCEPT THE AMENDMENT.
[Unknown]: SHALL THE SENATE SUBSTITUTE BE AGREED TO. [ RECORDATION ]
THE COMMITTEE AMENDMENTS ARE AGREED TO. HOUSE BILL 30 REPORTED FROM THE COMMITTEE ON FINANCE WHICH SENATE AMENDMENTS SUBSTITUTED FOR HOUSE AMENDMENTS. THE SENATOR FROM AUGUSTA? THANK YOU, MR. PRESIDENT. I MOVE THE COMMITTEE AMENDMENTS BE AGREED TO. THE REQUEST HE IS SHALL THE COMMITTEE AMENDMENTS BE AGREED TO. ALL IN FAVOR SAY AYE. THOSE OPPOSED, NO. THE AYES HAVE IT. THE COMMITTEE AMENDMENT IS AGREED TO. HOUSE BILL 349. REPORT THE REQUEST A SUB.