Virginia House Bill 461 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Engrossed on February 8 2012 - 50% progression, died in chamber
Action: 2012-02-09 - House: VOTE: DEFEATED (17-Y 80-N)
Text: Latest bill text (Amended) [HTML]

Local taxes; interest and penalties. Provides that the rate of interest set by localities that is charged on delinquent local taxes, and paid on refunds of local taxes, for the first year shall not exceed the "Underpayment Rate" established pursuant to §6621(a)(2) of the Internal Revenue Code. After the first year, the cap on the rate increases by two percent. Under current law, such interest rate shall not exceed the rate established pursuant to §6621(a)(2) of the Internal Revenue Code or 10 percent, whichever is greater. The bill also repeals a statute that automatically imposed an interest rate of 10 percent in any locality that does not enact an ordinance setting the interest rate. Finally, the bill authorizes the waiver of interest and penalty for good cause. The current law requiring the interest charged on delinquent taxes to be the same as the interest paid on tax refunds, is maintained. The bill contains technical amendments.

Taxes, local; rate of interest capped at five percent annually, penalties.

Del. Kathy Byron [R]

2012-02-09 - House - House: VOTE: DEFEATED (17-Y 80-N) (Y: 18 N: 81 NV: 3 Abs: 0) [FAIL]
2012-02-06 - House - House: Reported from Finance with amendment (17-Y 5-N) (Y: 18 N: 5 NV: 0 Abs: 0) [PASS]
2012-02-01 - House - House: Subcommittee recommends reporting with amendment(s) (7-Y 3-N) (Y: 7 N: 3 NV: 1 Abs: 0) [PASS]

Date	Chamber	Action
2012-02-09		House: VOTE: DEFEATED (17-Y 80-N)
2012-02-09		House: Read third time and defeated by House (17-Y 80-N)
2012-02-08		House: Engrossed by House - floor substitute HB461H1
2012-02-08		House: Substitute by Delegate Byron agreed to 12105158D-H1
2012-02-08		House: Floor substitute printed 12105158D-H1 (Byron)
2012-02-08		House: Committee amendment rejected
2012-02-08		House: Read second time
2012-02-07		House: Read first time
2012-02-06		House: Reported from Finance with amendment (17-Y 5-N)
2012-02-01		House: Subcommittee recommends reporting with amendment(s) (7-Y 3-N)
2012-01-20		House: Assigned Finance sub: #1
2012-01-10		House: Referred to Committee on Finance
2012-01-10		House: Prefiled and ordered printed; offered 01/11/12 12103712D

Chapter	Article	Section	Citation Type	Statute Text
58	1	3903	(n/a)	See Bill Text
58	1	3916	(n/a)	See Bill Text
58	1	3916.02	(n/a)	See Bill Text
58	1	3918	(n/a)	See Bill Text
58	1	3981	(n/a)	See Bill Text
58	1	3987	(n/a)	See Bill Text
58	1	535	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+HB461
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+HB461+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+HB461H1+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+H1001V0027+HB0461
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+H10V0139+HB0461
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?121+vot+HV0584+HB0461