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2002 SESSION

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HB 770 Local piggyback income tax.

Introduced by: Vivian E. Watts | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Local piggyback income tax. Allows localities to impose a local income tax at a rate of either one-half or one percent upon the Virginia taxable income of individuals, trusts, estates and corporations. The Tax Commissioner collects the tax and returns it to localities based on taxpayers' residences. The provisions of the act will take effect January 1, 2005, if a constitutional amendment eliminating the property tax on motor vehicles is approved in a referendum to be held during the general election in November 2004.

FULL TEXT

• 01/09/02  House: Presented & ordered printed, prefiled 01/09/02 027256980  pdf | impact statement

HISTORY

• 01/09/02  House: Presented & ordered printed, prefiled 01/09/02 027256980
• 01/09/02  House: Referred to Committee on Finance
• 01/21/02  House: Assigned to Finance sub-committee: 2
• 02/04/02  House: Continued to 2003 in Finance (22-Y 0-N)