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2011 SESSION
HB 1636 Intangible personal property tax; classification of certain machinery and tools.
Introduced by: Harry R. Purkey | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Intangible personal property tax; machinery and tools. Classifies as intangible personal property, and therefore subject solely to state taxation, (i) machinery and tools purchased on or after July 1, 2011, for the first three years following the date of purchase and (ii) machinery and tools used for business purposes, for the first three years after being brought into the Commonwealth for the first time. The bill also classifies as intangible personal property, and therefore subject solely to state taxation, machinery and tools that have been in use for at least 10 years and are located in any county, city, or town in which the assessed value of the machinery and tools is greater than one percent of the original cost.
FULL TEXT
- 01/10/11 House: Prefiled and ordered printed; offered 01/12/11 11101580D pdf | impact statement
- 02/02/11 House: Committee substitute printed 11104274D-H1 pdf
HISTORY
- 01/10/11 House: Prefiled and ordered printed; offered 01/12/11 11101580D
- 01/10/11 House: Referred to Committee on Finance
- 01/17/11 House: Assigned Finance sub: #2
- 02/01/11 House: Subcommittee recommends reporting with amendment(s) (6-Y 0-N)
- 02/02/11 House: Reported from Finance with substitute (21-Y 0-N)
- 02/02/11 House: Committee substitute printed 11104274D-H1
- 02/02/11 House: Referred to Committee on Appropriations
- 02/08/11 House: Left in Appropriations