VA HB1308 | 2024 | Regular Session
Status
Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on January 10 2024 - 25% progression
Action: 2024-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 10 2024 - 25% progression
Action: 2024-02-13 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Tangible personal property tax relief; rate of taxation. Removes the $950 million cap, beginning in tax year 2025 and all tax years thereafter, on the amount of tangible personal property tax relief reimbursed to localities by the Commonwealth. The bill requires, for tax year 2025 and all tax years thereafter, each county, city, or town to reduce its local tax rate on qualifying vehicles to no greater than $0.000001 per $100 of assessed value of the qualifying vehicle.
Title
Tangible personal property; removes $950 million cap on amount of tax relief reimbursed to locality.
Sponsors
Roll Calls
2024-01-30 - House - House: Subcommittee recommends laying on the table (5-Y 3-N) (Y: 5 N: 3 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-02-13 | House | Left in Finance |
| 2024-01-30 | House | Subcommittee recommends laying on the table (5-Y 3-N) |
| 2024-01-25 | House | Assigned Finance sub: Subcommittee #2 |
| 2024-01-10 | House | Referred to Committee on Finance |
| 2024-01-10 | House | Presented and ordered printed 24104790D |
