Virginia House Bill 288 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on January 3 2018 - 25% progression, died in committee
Action: 2018-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Recordation tax exemption; certain limited liability companies and limited or general partnerships. Provides a recordation tax exemption for deeds transferring property (i) to a subsidiary limited liability company or partnership from its parent limited liability company or partnership, (ii) from a subsidiary limited liability company or partnership to a parent limited liability company or partnership, (iii) to a limited liability company or partnership from a commonly owned limited liability company or partnership, or (iv) to a limited liability company or limited or general partnership from a commonly owned limited liability company or limited or general partnership, if the transaction qualifies for nonrecognition of gain or loss under the Internal Revenue Code and if the transfer is not a precursor or subsequent to a transfer of control of the assets of the company to avoid recordation taxes.

Recordation tax; exemptions, certain limited liability companies & limited or general partnerships.

Del. Jason Miyares [R]

Date	Chamber	Action
2018-02-13	House	Left in Finance
2018-01-31	House	Subcommittee recommends continuing to 2019 by voice vote
2018-01-30	House	Assigned Finance sub: Subcommittee #1
2018-01-03	House	Referred to Committee on Finance
2018-01-03	House	Prefiled and ordered printed; offered 01/10/18 18102608D

Chapter	Article	Section	Citation Type	Statute Text
58	1	811	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+HB288
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+HB288+hil