VA SB73 | 2012 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 9 2012 - 100% progression
Action: 2012-04-09 - Governor: Acts of Assembly Chapter text (CHAP0707)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 9 2012 - 100% progression
Action: 2012-04-09 - Governor: Acts of Assembly Chapter text (CHAP0707)
Text: Latest bill text (Chaptered) [HTML]
Summary
Real property tax; valuation of residential rental apartments. Requires that, in any appeal to a board of equalization concerning the fair market value of residential apartments in excess of four units, the board use the income approach to valuation, unless certain specified exceptions exist. Criteria to be used in making this determination include actual gross income generated, losses due to vacancies, collection losses, and rent concessions, as well as actual operating expenses and expenditures. The bill contains an emergency clause and is effective for tax years beginning on or after January 1, 2012.
Title
Residential rental apartments; appeal of real property assessments, fair market value.
Sponsors
Roll Calls
2012-02-27 - Senate - Senate: House substitute agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-23 - House - House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (Y: 102 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-20 - House - House: Reported from Finance with substitute (20-Y 0-N) (Y: 21 N: 0 NV: 2 Abs: 0) [PASS]
2012-02-15 - House - House: Subcommittee recommends reporting (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
2012-01-30 - Senate - Senate: Read third time and passed Senate (37-Y 3-N) (Y: 37 N: 3 NV: 0 Abs: 0) [PASS]
2012-01-26 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-01-25 - Senate - Senate: Reported from Finance with substitute (14-Y 0-N 1-A) (Y: 14 N: 0 NV: 0 Abs: 1) [PASS]
2012-02-23 - House - House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (Y: 102 N: 0 NV: 0 Abs: 0) [PASS]
2012-02-20 - House - House: Reported from Finance with substitute (20-Y 0-N) (Y: 21 N: 0 NV: 2 Abs: 0) [PASS]
2012-02-15 - House - House: Subcommittee recommends reporting (10-Y 0-N) (Y: 10 N: 0 NV: 1 Abs: 0) [PASS]
2012-01-30 - Senate - Senate: Read third time and passed Senate (37-Y 3-N) (Y: 37 N: 3 NV: 0 Abs: 0) [PASS]
2012-01-26 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2012-01-25 - Senate - Senate: Reported from Finance with substitute (14-Y 0-N 1-A) (Y: 14 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-04-09 | Governor: Acts of Assembly Chapter text (CHAP0707) | |
| 2012-04-09 | Governor: Approved by Governor-Chapter 707 (effective 4/9/12) | |
| 2012-03-03 | Senate: Signed by President | |
| 2012-03-01 | House: Signed by Speaker | |
| 2012-03-01 | Senate: Bill text as passed Senate and House (SB73ER) | |
| 2012-03-01 | Senate: Enrolled | |
| 2012-02-27 | Senate: Title replaced 12105397D-H1 | |
| 2012-02-27 | Senate: House substitute agreed to by Senate (40-Y 0-N) | |
| 2012-02-23 | House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) | |
| 2012-02-23 | House: Passed House with substitute BLOCK VOTE (100-Y 0-N) | |
| 2012-02-23 | House: Engrossed by House - committee substitute SB73H1 | |
| 2012-02-23 | House: Committee substitute agreed to 12105397D-H1 | |
| 2012-02-23 | House: Read third time | |
| 2012-02-22 | House: Passed by for the day | |
| 2012-02-21 | House: Read second time | |
| 2012-02-20 | House: Committee substitute printed 12105397D-H1 | |
| 2012-02-20 | House: Reported from Finance with substitute (20-Y 0-N) | |
| 2012-02-15 | House: Subcommittee recommends reporting (10-Y 0-N) | |
| 2012-02-13 | House: Assigned Finance sub: #1 | |
| 2012-02-13 | House: Referred to Committee on Finance | |
| 2012-02-13 | House: Read first time | |
| 2012-02-13 | House: Placed on Calendar | |
| 2012-01-30 | Senate: Read third time and passed Senate (37-Y 3-N) | |
| 2012-01-27 | Senate: Engrossed by Senate - committee substitute SB73S1 | |
| 2012-01-27 | Senate: Committee substitute agreed to 12104695D-S1 | |
| 2012-01-27 | Senate: Reading of substitute waived | |
| 2012-01-27 | Senate: Read second time | |
| 2012-01-26 | Senate: Constitutional reading dispensed (40-Y 0-N) | |
| 2012-01-25 | Senate: Committee substitute printed 12104695D-S1 | |
| 2012-01-25 | Senate: Reported from Finance with substitute (14-Y 0-N 1-A) | |
| 2012-01-05 | Senate: Referred to Committee on Finance | |
| 2012-01-05 | Senate: Prefiled and ordered printed with emergency clause; offered 01/11/12 12103414D |
Same As/Similar To
HB1073 (Same As) 2012-04-04 - Governor: Acts of Assembly Chapter text (CHAP0536)
