Virginia House Bill 2640 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 10 2019 - 25% progression, died in chamber
Action: 2019-02-04 - Engrossment refused by House
Text: Latest bill text (Introduced) [HTML]

Machinery and tools tax; definition of original total capitalized cost. Provides that, for purposes of the machinery and tools tax, "original total capitalized cost," which is used to calculate assessed value, means the property's cost when acquired by the current owner plus any amount incurred to extend its useful life. If the property was not acquired in an arm's-length transaction, the prior owner's original total capitalized cost is used. Acquisitions are presumed to be arm's-length unless the current owner bought the property from an affiliate.

Machinery and tools tax; definition of original total capitalized cost.

Del. Kathy Byron [R]

2019-01-28 - House - House: Reported from Finance (14-Y 8-N) (Y: 14 N: 8 NV: 0 Abs: 0) [PASS]
2019-01-23 - House - House: Subcommittee recommends reporting (5-Y 3-N) (Y: 5 N: 3 NV: 2 Abs: 0) [FAIL]

Date	Chamber	Action
2019-02-04	House	Engrossment refused by House
2019-02-04	House	Read second time
2019-02-01	House	Passed by for the day
2019-01-31	House	Passed by for the day
2019-01-30	House	Read first time
2019-01-28	House	Reported from Finance (14-Y 8-N)
2019-01-23	House	Subcommittee recommends reporting (5-Y 3-N)
2019-01-22	House	Assigned Finance sub: Subcommittee #1
2019-01-10	House	Referred to Committee on Finance
2019-01-10	House	Presented and ordered printed 19103646D

Chapter	Article	Section	Citation Type	Statute Text
58	1	3507	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+HB2640
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+HB2640+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H1001V0026+HB2640
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H10V0049+HB2640