Merchants' capital tax; classification. (HB119)

Introduced By

Del. Bob Thomas (R-Stafford) with support from co-patron Del. Mark Cole (R-Fredericksburg)

Progress

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

Description

Merchants' capital tax; classification. Creates a separate class for merchants' capital of any wholesaler reported as inventory that is located, and is normally located, in a structure that contains at least 100,000 square feet, with at least 100,000 square feet used solely to store such inventory. Any locality may impose a tax rate on such inventory that is lower than that applicable generally to merchants' capital. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
12/15/2017Committee
12/15/2017Prefiled and ordered printed; offered 01/10/18 18101758D
12/15/2017Referred to Committee on Finance
01/13/2018Impact statement from TAX (HB119)
01/23/2018Assigned Finance sub: Subcommittee #1
01/24/2018Subcommittee recommends reporting (9-Y 1-N)
01/29/2018Reported from Finance (22-Y 0-N)
01/29/2018Reported from Finance (21-Y 1-N) (see vote tally)
01/31/2018Read first time
02/01/2018Read second time and engrossed
02/02/2018Read third time and passed House (94-Y 3-N)
02/02/2018VOTE: PASSAGE (94-Y 3-N) (see vote tally)
02/05/2018Constitutional reading dispensed
02/05/2018Referred to Committee on Finance
02/13/2018Impact statement from TAX (HB119)
02/14/2018Reported from Finance (15-Y 0-N) (see vote tally)
02/15/2018Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2018Read third time
02/16/2018Passed Senate (38-Y 0-N) (see vote tally)
02/19/2018Enrolled
02/19/2018Bill text as passed House and Senate (HB119ER)
02/19/2018Signed by Speaker
02/21/2018Signed by President
02/22/2018Enrolled Bill communicated to Governor on 2/22/18
02/22/2018G Governor's Action Deadline Midnight, March 1, 2018
02/26/2018Impact statement from TAX (HB119ER)
02/26/2018G Approved by Governor-Chapter 23 (effective 7/1/18)
02/26/2018G Acts of Assembly Chapter text (CHAP0023)

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 44 seconds.