VA HB1575 | 2020 | Regular Session

Status

Spectrum: Bipartisan Bill
Status: Engrossed on February 7 2020 - 50% progression
Action: 2020-02-11 - Referred to Committee on Finance and Appropriations
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Comm Sub) [HTML]

Summary

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.

Tracking Information

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Title

Merchants' capital tax; separate classification, retailers.

Sponsors


Roll Calls

2020-02-10 - House - House: VOTE: Passage (79-Y 19-N) (Y: 78 N: 19 NV: 2 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-05 - House - House: Reported from Finance with substitute (21-Y 1-N) (Y: 21 N: 1 NV: 0 Abs: 0) [PASS]
2020-02-03 - House - House: Subcommittee recommends reporting with substitute (9-Y 1-N) (Y: 9 N: 1 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2020-02-11SenateReferred to Committee on Finance and Appropriations
2020-02-11SenateConstitutional reading dispensed
2020-02-10HouseVOTE: Passage (79-Y 19-N)
2020-02-10HouseRead third time and passed House (79-Y 19-N)
2020-02-07HouseEngrossed by House - committee substitute HB1575H1
2020-02-07HouseCommittee substitute agreed to 20106932D-H1
2020-02-07HouseRead second time
2020-02-06HouseRead first time
2020-02-05HouseReported from Finance with substitute (21-Y 1-N)
2020-02-05HouseCommittee substitute printed 20106932D-H1
2020-02-03HouseSubcommittee recommends reporting with substitute (9-Y 1-N)
2020-01-23HouseAssigned Finance sub: Subcommittee #2
2020-01-14HouseReferred to Committee on Finance
2020-01-14HousePresented and ordered printed 20105515D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
5813510.02(n/a)See Bill Text

Virginia State Sources


Bill Comments

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