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2004 SESSION

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HB 1464 Personal property exempt from taxation; includes farm property and products.

Introduced by: Lynwood W. Lewis, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Personal property tax exemption; farm property and products. Requires localities to exempt farm property and products from the personal property tax. Current law makes such exemption optional. Any locality that taxed such property in 2003 shall receive an annual appropriation from the Commonwealth in an amount equivalent to the total revenue collected by the locality pursuant to such tax in 2003. The bill has a delayed effective date of January 1, 2005.

FULL TEXT

• 01/23/04  House: Presented & ordered printed 042570378  pdf | impact statement

HISTORY

• 01/23/04  House: Unanimous consent to introduce
• 01/23/04  House: Presented & ordered printed 042570378
• 01/23/04  House: Referred to Committee on Finance
• 01/27/04  House: Assigned to Finance sub-committee: 1
• 02/11/04  House: Continued to 2005 in Finance (21-Y 0-N)