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2009 SESSION

091130220
SENATE BILL NO. 924
Offered January 14, 2009
Prefiled January 5, 2009
A BILL to amend the Code of Virginia by adding a section numbered 58.1-608.1:1, relating to refund of sales and use tax paid on the purchase of certain machinery or equipment.
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Patron-- Deeds
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Referred to Committee on Finance
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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 58.1-608.1:1 as follows:

§ 58.1-608.1:1. Refund authorized for certain machinery or equipment.

A. Any person meeting the following conditions and criteria may apply to the Department of Taxation for a refund of any taxes paid by the person pursuant to this chapter for each article of machinery or equipment purchased or leased with a sales price of at least $50,000:

1. The machinery or equipment is used in a Virginia locality;

2. The person provides evidence satisfactory to the Tax Commissioner that the purchase or lease of such machinery or equipment is part of a new investment that will result in the creation of at least 10 additional jobs by the person paying at least the prevailing average wage (and the standard fringe benefits) in the locality in which the machinery or equipment is used; and

3. The person provides to the Tax Commissioner a sales receipt relating to the purchase or lease of the article.

B. No refund shall be granted pursuant to this section for (i) general building improvements or (ii) machinery or equipment for which any tax credit, grant, or other payment is taken, claimed, or paid under Virginia law.

2.  That the provisions of this act shall be effective for purchases made on or after July 1, 2009.