Intangible personal property; personal property used in manufacturing. (SB879)

Introduced By

Sen. Ben Chafin (R-Lebanon)

Progress

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

Description

Intangible personal property; personal property used in manufacturing. Clarifies that personal property used directly in manufacturing in the locality in which the tax is assessed is classified as intangible personal property. Current law does not require that the property be used directly in manufacturing in order to be considered intangible, nor does it require that the property be in the locality in which manufacturing actually occurs. Amends § 58.1-1101, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/18/2018Presented and ordered printed 18105039D
01/18/2018Referred to Committee on Finance
01/21/2018Impact statement from TAX (SB879)
01/30/2018Continued to 2019 in Finance (14-Y 0-N) (see vote tally)
11/30/2018Left in Finance

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