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2006 SESSION

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SB 404 Personal property taxes; rate for generating equipment of electric suppliers.

Introduced by: Emmett W. Hanger, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Property taxes; generating equipment of electric suppliers.  Provides that generating equipment of electric suppliers utilizing wind turbines may be taxed at a rate or rates that exceeds the real estate rate, but does not exceed the personal property rate.  The bill has an effective date of January 1, 2007.

SUMMARY AS INTRODUCED:

Property taxes; generating equipment of electric suppliers.  Provides that generating equipment of electric suppliers utilizing wind turbines shall be taxed at a rate or rates that when applied to assessed value would generate an amount of revenue approximately equal to $5,000 per megawatt of the nameplate production capacity. The $5,000 base amount would be indexed every five years beginning January 1, 2012, by an amount equal to the percentage increase in the Consumer Price Index for all items, all urban consumers (CPI-U). The bill has an effective date of January 1, 2007.