Merchants' capital tax; separate classification, retailers. (HB1575)
Introduced By
Del. Mark Cole (R-Fredericksburg) with support from co-patron Del. Josh Cole (D-Fredericksburg)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Merchants' capital tax; separate classification; retailers. Provides that the merchants' capital of any retailer reported as inventory that is located in a structure that contains at least 200,000 square feet, with at least 200,000 square feet used solely to store such inventory, shall, along with certain wholesalers, be considered a separate classification and may be taxed at a lower rate than other classifications of merchants' capital. Under current law, only merchants' capital of wholesalers meeting a similar threshold of 100,000 square feet constitutes a separate class of property. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/14/2020 | Presented and ordered printed 20105515D |
01/14/2020 | Referred to Committee on Finance |
01/19/2020 | Impact statement from TAX (HB1575) |
01/23/2020 | Assigned Finance sub: Subcommittee #2 |
02/03/2020 | House committee, floor amendments and substitutes offered |
02/03/2020 | Subcommittee recommends reporting with substitute (9-Y 1-N) |
02/05/2020 | Committee substitute printed 20106932D-H1 |
02/05/2020 | Reported from Finance with substitute (21-Y 1-N) (see vote tally) |
02/06/2020 | Read first time |
02/07/2020 | Read second time |
02/07/2020 | Committee substitute agreed to 20106932D-H1 |
02/07/2020 | Engrossed by House - committee substitute HB1575H1 |
02/10/2020 | Read third time and passed House (79-Y 19-N) |
02/10/2020 | VOTE: Passage (79-Y 19-N) (see vote tally) |
02/11/2020 | Constitutional reading dispensed |
02/11/2020 | Referred to Committee on Finance and Appropriations |
02/19/2020 | Impact statement from TAX (HB1575H1) |
02/25/2020 | Reported from Finance and Appropriations (16-Y 0-N) (see vote tally) |
02/26/2020 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/27/2020 | Read third time |
02/27/2020 | Passed Senate (40-Y 0-N) (see vote tally) |
03/04/2020 | Enrolled |
03/04/2020 | Bill text as passed House and Senate (HB1575ER) |
03/05/2020 | Signed by Speaker |
03/05/2020 | Signed by President |
03/06/2020 | Impact statement from TAX (HB1575ER) |
03/12/2020 | Enrolled Bill communicated to Governor on March 12, 2020 |
03/12/2020 | G Governor's Action Deadline 11:59 p.m., April 11, 2020 |
03/31/2020 | G Approved by Governor-Chapter 541 (effective 7/1/20) |
03/31/2020 | G Acts of Assembly Chapter text (CHAP0541) |