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2006 SESSION
HB 1290 Machinery and tools tax; method of valuation thereof for income tax purposes.
Introduced by: Christopher B. Saxman | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Machinery and tools tax; method of valuation. Requires commissioners of the revenue, in valuing machinery and tools to consider any bona fide, independent appraisal presented by the taxpayer. The bill would also provide that idle machinery and tools used in certain businesses be taxable as capital and subject to the State intangible personal property tax (the Commonwealth currently exempts intangible personal property from tax). Finally, the bill would require the Tax Commissioner to examine and report on certain related issues.
FULL TEXT
- 01/11/06 House: Prefiled and ordered printed; offered 01/11/06 062625496 pdf | impact statement
- 02/06/06 House: Committee substitute printed 069211496-H1 pdf | impact statement
- 02/22/06 Senate: Committee substitute printed 069236496-S1 pdf
- 03/09/06 House: Bill text as passed House and Senate (HB1290ER) pdf | impact statement
AMENDMENTS
HISTORY
- 01/11/06 House: Prefiled and ordered printed; offered 01/11/06 062625496
- 01/11/06 House: Referred to Committee on Finance
- 01/20/06 House: Assigned to Finance sub-committee: #1 (Orrock)
- 02/06/06 House: Reported from Finance with substitute (22-Y 0-N)
- 02/06/06 House: Committee substitute printed 069211496-H1
- 02/07/06 House: Read first time
- 02/08/06 House: Read second time
- 02/08/06 House: Committee substitute agreed to 069211496-H1
- 02/08/06 House: Engrossed by House - committee substitute HB1290H1
- 02/08/06 House: Engrossment reconsidered by House
- 02/08/06 House: Engrossed by House - committee substitute HB1290H1
- 02/09/06 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 02/09/06 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/09/06 House: Communicated to Senate
- 02/10/06 Senate: Constitutional reading dispensed
- 02/10/06 Senate: Referred to Committee on Finance
- 02/22/06 Senate: Reported from Finance with substitute (14-Y 1-N)
- 02/22/06 Senate: Committee substitute printed 069236496-S1
- 02/23/06 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/23/06 Senate: VOTE: (40-Y 0-N)
- 02/24/06 Senate: Read third time
- 02/24/06 Senate: Passed by for the day
- 02/27/06 Senate: Read third time
- 02/27/06 Senate: Reading of substitute waived
- 02/27/06 Senate: Committee substitute agreed to 069236496-S1
- 02/27/06 Senate: Engrossed by Senate - committee substitute HB1290S1
- 02/27/06 Senate: Passed Senate with substitute (35-Y 4-N)
- 02/27/06 Senate: VOTE: (35-Y 4-N)
- 02/28/06 House: Placed on Calendar
- 03/01/06 House: Passed by for the day
- 03/01/06 House: Motion to reconsidered pass by for the day agreed to
- 03/01/06 House: Passed by for the day
- 03/02/06 House: Senate substitute agreed to by House (83-Y 17-N)
- 03/02/06 House: VOTE: ADOPTION (83-Y 17-N)
- 03/09/06 House: Enrolled
- 03/09/06 Senate: Signed by President
- 03/09/06 House: Bill text as passed House and Senate (HB1290ER)
- 03/10/06 House: Signed by Speaker
- 04/11/06 House: Governor's recommendation received by House
- 04/18/06 House: Placed on Calendar
- 04/19/06 House: House rejected Governor's recommendation (47-Y 52-N)
- 04/19/06 House: VOTE: REJECTED (47-Y 52-N)
- 04/19/06 House: Communicated to Governor
- 05/18/06 Governor: Vetoed by Governor