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. Amends § 58.1-811, of the Code of Virginia. Read the Bill »

Status

04/01/2016: signed by governor

History

DateAction
01/05/2016Committee
01/05/2016Prefiled and ordered printed; offered 01/13/16 16101670D
01/05/2016Referred to Committee on Finance
01/05/2016Introduced bill reprinted 16101670D
01/30/2016Impact statement from TAX (HB339)
02/09/2016Assigned Finance sub: Subcommittee #2
02/10/2016Subcommittee recommends reporting (10-Y 0-N)
02/15/2016Reported from Finance (21-Y 1-N) (see vote tally)
02/16/2016Read first time
02/17/2016Read second time and engrossed
02/18/2016Read third time and passed House (95-Y 1-N)
02/18/2016VOTE: PASSAGE (95-Y 1-N) (see vote tally)
02/19/2016Constitutional reading dispensed
02/19/2016Referred to Committee on Finance
02/23/2016Impact statement from TAX (HB339)
03/01/2016Reported from Finance with substitute (15-Y 0-N) (see vote tally)
03/01/2016Committee substitute printed 16105941D-S1
03/02/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/02/2016Read third time
03/02/2016Reading of substitute waived
03/02/2016Committee substitute agreed to 16105941D-S1
03/02/2016Engrossed by Senate - committee substitute HB339S1
03/02/2016Passed Senate with substitute (40-Y 0-N) (see vote tally)
03/02/2016Senate substitute agreed to by House 16105941D-S1 (95-Y 0-N)
03/02/2016VOTE: ADOPTION (95-Y 0-N) (see vote tally)
03/03/2016Enrolled
03/03/2016Bill text as passed House and Senate (HB339ER)
03/03/2016Signed by Speaker
03/06/2016Signed by President
03/07/2016Impact statement from TAX (HB339ER)
03/07/2016Enrolled Bill communicated to Governor on 3/7/2016
03/07/2016G Governor's Action Deadline Midnight, Sunday, April 10, 2016
04/01/2016G Approved by Governor-Chapter 662 (effective 7/1/16)
04/01/2016G 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.