SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2010 SESSION

  • | print version

HB 545 Machinery & tools; tax exemption when used to create production components using recycled materials.

Introduced by: Daniel W. Marshall, III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Recycled materials to create tangible personal property; tax exemptions and incentives.  Exempts from state taxation until July 1, 2020, production and industrial components used to create finished tangible personal products from recycled materials. The bill allows counties, cities and towns to classify those tools and machinery separately for taxation purposes. Machinery and equipment used to process the recycled material is to be certified as such by the Department of Environmental Quality. Qualified businesses may receive local incentives for converting recycled materials into tangible personal property for resale. This is a recommendation of the Virginia Housing Commission.


FULL TEXT

HISTORY