SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2010 SESSION
SB 355 Short-term rental property; shall classify as a separate classification of merchants' capital.
Introduced by: Mark D. Obenshain | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Local taxation of short-term rental property. Classifies short-term rental property as a separate classification of merchants’ capital, and would authorize the governing body of any locality to tax short-term rental property under the merchants’ capital tax or under the short-term rental property tax, but not both. The bill also declares that short-term rental property does not constitute tangible personal property for purposes of local taxation. The bill is effective for tax years beginning on and after January 1, 2010.
SUMMARY AS INTRODUCED:
Local taxation of short-term rental property. Provides that short-term rental property is a classification of merchants' capital and for local property taxation purposes shall be subject to the merchants' capital tax or the short-term rental property tax, but not both. The bill also prohibits a locality from levying both a short-term rental property tax and a BPOL tax on merchants engaged in the business of short-term property rentals.
The bill would be effective for tax years and license years beginning January 1, 2011.