Virginia Regional Industrial Facilities Act; revenue sharing, composite index. (HB692)
Introduced By
Del. Danny Marshall (R-Danville) with support from co-patron Del. Les Adams (R-Chatham)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
✓ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Regional Industrial Facilities Act; revenue sharing; composite index. Requires the Department of Taxation's calculation of true values as applied to the Commonwealth's composite index of local ability-to-pay to take into account an arrangement by localities entered into pursuant to the Virginia Regional Industrial Facilities Act whereby a portion of tax revenue is initially paid to one locality and redistributed to another locality. The bill requires such calculation to properly apportion the percentage of tax revenue ultimately received by each locality. The bill has a delayed effective date of July 1, 2020. Read the Bill »
Status
02/27/2018: Failed to Pass in Committee
History
Date | Action |
---|---|
01/09/2018 | Committee |
01/09/2018 | Prefiled and ordered printed; offered 01/10/18 18104538D |
01/09/2018 | Referred to Committee on Counties, Cities and Towns |
01/17/2018 | Assigned CC & T sub: Subcommittee #2 |
01/18/2018 | Subcommittee recommends reporting (8-Y 0-N) |
01/18/2018 | Subcommittee recommends referring to Committee on Appropriations |
01/19/2018 | Reported from Counties, Cities and Towns (21-Y 0-N) (see vote tally) |
01/19/2018 | Referred to Committee on Appropriations |
01/22/2018 | Assigned App. sub: Elementary & Secondary Education |
01/26/2018 | Impact statement from DPB (HB692) |
02/07/2018 | Subcommittee recommends reporting with substitute (8-Y 0-N) |
02/09/2018 | Reported from Appropriations with substitute (22-Y 0-N) (see vote tally) |
02/09/2018 | Committee substitute printed 18106622D-H1 |
02/10/2018 | Read first time |
02/12/2018 | Read second time |
02/12/2018 | Committee substitute agreed to 18106622D-H1 |
02/12/2018 | Engrossed by House - committee substitute HB692H1 |
02/13/2018 | Read third time and passed House (100-Y 0-N) |
02/13/2018 | VOTE: PASSAGE (100-Y 0-N) (see vote tally) |
02/14/2018 | Constitutional reading dispensed |
02/14/2018 | Referred to Committee on Local Government |
02/19/2018 | Impact statement from DPB (HB692H1) |
02/20/2018 | Reported from Local Government (13-Y 0-N) (see vote tally) |
02/20/2018 | Rereferred to Finance |
02/27/2018 | Continued to 2019 in Finance (11-Y 1-N) (see vote tally) |