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2014 SESSION

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Senate Committee on Finance

Chairman: Walter A. Stosch

Clerk: Patty Lung, Wesley Bland
Staff: Nicole Brenner, Mark Vucci
Date of Meeting: January 15, 2014
Time and Place: 9:00 a.m. - Senate Room B
Revised to remove SBs 285, 352, 364, 478, & 489

S.B. 1

Patron: Ebbin

Annual license tax on hybrid electric motor vehicles. Repeals the $64 annual license tax on hybrid electric motor vehicles that was first imposed beginning July 1, 2013. The bill also provides for refunds of the license tax paid on hybrid electric motor vehicles for registration years beginning on or after July 1, 2014.

S.B. 27

Patron: Ebbin

Individual income tax refunds; payment. Requires the Tax Commissioner and State Comptroller to implement procedures to allow an individual to elect to have his income tax refund paid by check mailed to his address. If the individual makes no election on his income tax return as to the method of payment of his refund, the refund would paid by check mailed to the address provided on his return. The bill applies to individual income tax returns relating to taxable year 2014 and taxable years thereafter.

S.B. 38

Patron: Marsden

Annual license tax on hybrid electric motor vehicles. Repeals the $64 annual license tax on hybrid electric motor vehicles that was first imposed beginning July 1, 2013. The bill also provides for refunds of the license tax paid on hybrid electric motor vehicles for registration years beginning on or after July 1, 2014.

S.B. 89

Patron: Newman

Virginia Retirement System; disability program for hybrid retirement plan participants. Provides that a disability program that provides income protection of at least 60% through the use of paid leave, or disability payments, is deemed a program comparable to the Virginia Retirement System's (VRS's) disability program for hybrid retirement plan participants, which an employer may provide in lieu of VRS's program.

S.B. 112

Patron: Stanley

Local license tax and local machinery and tools tax. Provides that the Commonwealth pay on behalf of taxpayers the total amount of license taxes and machinery and tool taxes owed to a locality for any calendar year in which the locality has an annual unemployment rate that is equal to or greater than twice the statewide average. Such payments to a locality shall continue until the applicable locality's annual unemployment rate is equal to or less than the statewide average.

S.B. 113

Patron: Stanley

Repayment of a Literary Fund loan to the Patrick County Board of Supervisors to be applied to the costs of reconstructing Meadows of Dan Elementary School. Provides that in the event that the Patrick County Board of Supervisors applies to the Board of Education for a Literary Fund loan to cover some or all of the cost of reconstructing Meadows of Dan Elementary School and the Board of Education grants such application, the General Assembly shall provide in the succeeding general appropriation act such funds to the Patrick County Board of Supervisors as are sufficient for full repayment of the Literary Fund loan.

S.B. 127

Patron: Newman

Annual license tax on hybrid electric motor vehicles. Repeals the $64 annual license tax on hybrid electric motor vehicles that was first imposed beginning July 1,2013. The bill also provides for refunds of the license tax paid on hybrid electric motor vehicles for registration years beginning on or after July 1, 2013.

S.B. 141

Patron: Barker

Individual income tax refunds; payment. Requires the Tax Commissioner and State Comptroller to implement procedures to allow an individual to elect to have his income tax refund paid by check mailed to his address. If the individual makes no election on his income tax return as to the method of payment of his refund, the refund would be paid by check mailed to the address provided on his return. The bill applies to individual income tax returns relating to taxable year 2014 and taxable years thereafter.

S.B. 159

Patron: Miller

Annual license tax on certain vehicles. Repeals the $64 annual license tax on hybrid electric motor vehicles and alternative fuel vehicles that was first imposed beginning July 1, 2013. The bill also lowers the annual license tax for electric motor vehicles to $50 per year, the rate that was in effect on June 30, 2013. The bill provides for refunds of the license tax paid on hybrid electric motor vehicles and alternative fuel vehicles for registration years beginning on or after July 1, 2014, and for a refund of the difference between the $64 rate and the $50 rate for the license tax paid on electric motor vehicles for registration years beginning on or after July 1, 2014.

S.B. 221

Patron: Petersen

Annual license tax on hybrid electric motor vehicles. Eliminates the $64 annual license tax on hybrid electric motor vehicles that was first imposed beginning July 1, 2013.

S.B. 269

Patron: Stanley

Education Improvement Scholarships Tax Credits. Provides that tax credits issued for monetary or marketable securities donations made beginning in taxable year 2014 can be claimed for the taxable year of the donation. Under current law, Education Improvement Scholarships Tax Credits may be first claimed for the taxable year following the taxable year of the donation.

S.B. 320

Patron: Ebbin

Local paper and plastic bag tax. Authorizes localities in Planning District 8 by ordinance to impose a tax on disposable paper bags and disposable plastic bags. Revenues from the local tax would be collected by the Tax Commissioner and distributed monthly to the county or city imposing the tax. The bill requires each county or city adopting an ordinance to impose the tax to provide a certified copy of the ordinance to the Tax Commissioner at least six months prior to the date the tax is to become effective.

S.B. 494

Patron: Marsh

Reduced cigarette ignition propensity; penalties. Transfers administration of the reduced cigarette ignition propensity (RCIP) program from the Commissioner of Agriculture and Consumer Services to the Executive Director of the Department of Fire Programs. The RCIP program, enacted in 2008, restricted the manufacture, sale, or offer for sale of cigarettes that do not meet a performance standard for fire safety. Manufacturers are assessed a fee of $250 per brand, the proceeds from which are to be deposited in the Cigarette Fire Safety Standard and Firefighter Protection Act Fund. Violators are subject to civil penalties.

S.B. 506

Patron: Wagner

Annual license tax on hybrid electric motor vehicles. Eliminates the $64 annual license tax on hybrid electric motor vehicles that was first imposed beginning July 1, 2013. The bill also provides for refunds of the license tax paid on hybrid electric motor vehicles for registration years beginning on or after July 1, 2014.