Land preservation tax credits; withholding tax of nonresident owners. (SB1286)

Introduced By

Sen. Mark Obenshain (R-Harrisonburg)

Progress

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

Description

Land preservation tax credits; withholding tax of nonresident owners. Allows a pass-through entity to claim a land preservation tax credit against the taxes withheld on the Virginia source income of a nonresident owner of the entity. The use of such credit against the withholding tax by the pass-through entity would not be subject to the two percent transfer fee. Amends § 58.1-513, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2017Prefiled and ordered printed; offered 01/11/17 17102244D
01/10/2017Referred to Committee on Finance
01/30/2017Impact statement from TAX (SB1286)
02/01/2017Reported from Finance with substitute (16-Y 0-N) (see vote tally)
02/01/2017Committee substitute printed 17104894D-S1
02/02/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/03/2017Read second time
02/03/2017Reading of substitute waived
02/03/2017Committee substitute agreed to 17104894D-S1
02/03/2017Engrossed by Senate - committee substitute SB1286S1
02/03/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/03/2017Passed Senate (40-Y 0-N) (see vote tally)
02/07/2017Impact statement from TAX (SB1286S1)
02/08/2017Placed on Calendar
02/08/2017Read first time
02/08/2017Referred to Committee on Finance
02/08/2017Assigned Finance sub: Subcommittee #2
02/08/2017Subcommittee recommends reporting (10-Y 0-N)
02/13/2017Reported from Finance (22-Y 0-N) (see vote tally)
02/14/2017Read second time
02/15/2017Read third time
02/15/2017Passed House BLOCK VOTE (99-Y 0-N)
02/15/2017VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/17/2017Enrolled
02/17/2017Bill text as passed Senate and House (SB1286ER)
02/17/2017Signed by Speaker
02/20/2017Signed by President
02/21/2017Enrolled Bill Communicated to Governor on 2/21/17
02/21/2017G Governor's Action Deadline Midnight, March 27, 2017
03/06/2017Impact statement from TAX (SB1286ER)
03/24/2017G Approved by Governor-Chapter 725 (effective 7/1/17)
03/24/2017G Acts of Assembly Chapter text (CHAP0725)