VA HB1402 | 2023 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on November 30 2022 - 25% progression, died in committee
Action: 2023-02-07 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on November 30 2022 - 25% progression, died in committee
Action: 2023-02-07 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
Personal property taxes; valuation. Requires, for taxable years beginning on and after January 1, 2024, that tangible personal property employed in a trade or business be valued for taxation using the federal Modified Accelerated Cost Recovery System (MACRS) of depreciation in place of the valuation methods currently in effect. The MACRS is also required to be used for machinery and tools taxes.
Title
Personal property taxes; valuation.
Sponsors
| Del. Marie March [R] |
Roll Calls
2023-01-24 - House - House: Subcommittee recommends laying on the table (7-Y 0-N) (Y: 7 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2023-02-07 | House | Left in Finance |
| 2023-01-24 | House | Subcommittee recommends laying on the table (7-Y 0-N) |
| 2023-01-19 | House | Assigned Finance sub: Subcommittee #2 |
| 2022-11-30 | House | Referred to Committee on Finance |
| 2022-11-30 | House | Prefiled and ordered printed; offered 01/11/23 23100145D |
