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2010 SESSION

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SJ 69 Constitutional amendment; property tax relief for certain businesses.

Introduced by: Richard H. Stuart | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); property taxes; relief for certain businesses.  Allows the General Assembly to authorize localities to exempt in whole or in part from property taxes (i) the property of a business that is new to the Commonwealth so long as the locality is defined by law to have the capacity to accept the expansion and (ii) the property of a business located in the Commonwealth so long as the business is presently located in an area defined by law as lacking the capacity to accommodate business expansion and so long as the locality granting the exemption is defined by law to have the capacity to accommodate the expansion.   The General Assembly is required to provide definitions, restrictions, and conditions to implement this authorization and to limit the duration of the tax relief to three years.

FULL TEXT

• 01/12/10  Senate: Prefiled and ordered printed; offered 01/13/10 10101459D  pdf

HISTORY

• 01/12/10  Senate: Prefiled and ordered printed; offered 01/13/10 10101459D
• 01/12/10  Senate: Referred to Committee on Privileges and Elections
• 01/19/10  Senate: Continued to 2011 in Privileges and Elections (15-Y 0-N)