SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2017 SESSION

  • print version
Senate Committee on Finance

Co-Chair: Thomas K. Norment, Jr. - Co-Chair: Emmett W. Hanger, Jr.

Clerk: Patty Lung, Wesley Bland
Staff: Lisa Wallmeyerr
Date of Meeting: February 7, 2017
Time and Place: 9:00 a.m. - Senate Room B

H.B. 1415

Patron: Ware

Transient occupancy tax; Goochland, Powhatan, and Warren Counties. Adds the Counties of Goochland, Powhatan, and Warren to the list of counties authorized to impose a transient occupancy tax at a rate not to exceed five percent, provided that any excess over two percent is designated and spent solely for tourism purposes. Under current law, all counties are authorized to impose such tax at a rate not to exceed two percent, and specified counties may impose the tax at a rate not to exceed five percent.

H.B. 1433

Patron: Farrell

Neighborhood Assistance Act Tax Credit. Modifies the requirement that at least 10 percent of all available tax credits be allocated to organizations that have not previously received tax credits by providing that the allocation for such organizations is required only if the General Assembly increases the amount of available credits year over year. The bill requires that the allocation be at least 10 percent of credits created by the increase rather than 10 percent of all available credits. Current law limits credits to $9 million for education proposals approved by the Superintendent of Public Instruction and $8 million for proposals approved by the Commissioner of Social Services.

H.B. 1455

Patron: Ware

Real property tax; partial exemption for certain commercial and industrial structures. Reduces from 20 years to 15 years the minimum age of a structure in a technology zone that is rehabilitated for commercial use that qualifies the rehabilitated structure for a partial exemption from real property taxes. Under current law a 15-year age minimum applies only to structures located in an enterprise zone designated by the Commonwealth, and a 20-year age minimum applies in all other situations. The bill contains technical amendments.

H.B. 1476

Patron: Orrock

Real property tax; special assessment for land preservation. Prohibits any locality from requiring any taxpayer who is the lessor of real property to produce the lease for the purpose of determining whether the property is eligible for special assessment for land preservation.

H.B. 1478

Patron: Orrock

Recordation tax; exemption. Exempts from recordation tax deeds of trust given by utility consumer services cooperatives.

H.B. 1529

Patron: Ward

Temporary exemption periods from retail sales and use taxes for qualifying items; sunset dates. Extends from July 1, 2017, to July 1, 2022, the sunset dates for the sales tax holiday periods for school supplies and clothing, Energy Star and WaterSense products, and hurricane preparedness products.

H.B. 1565

Patron: Webert

Local tax and regulatory incentives; green development zones. Authorizes localities to create green development zones that provide certain tax incentives and regulatory flexibility for up to 10 years to a business operating in an energy-efficient building or to a business that produces products used to reduce negative impact on the environment.

H.B. 1626

Patron: Robinson

License tax on peddlers and itinerant merchants; adhesive license display. Provides that any locality requiring an itinerant merchant to display its license at its temporary place of business shall provide to the itinerant merchant an adhesive label that satisfies such requirement.

H.B. 1668

Patron: Stolle

Sales and use tax exemption; legal tender coins. Exempts legal tender coins whose total transaction sales price exceeds $1,000 from sales and use tax. The provisions of the bill expire on June 30, 2022.

H.B. 1681

Patron: Bloxom

Transient occupancy tax; state parks. Permits localities to impose transient occupancy taxes on transient room rentals and travel campgrounds in state parks.

H.B. 1810

Patron: Knight

Sales and use tax; online access to certain information. Requires the Department of Taxation to provide online access to registered dealers of the names and certificate of registration numbers of dealers who are currently registered for the retail sales and use tax.

H.B. 1884

Patron: Hugo

Real property tax exemption; certain surviving spouses. Authorizes localities to exempt the primary residence of the surviving spouse of a law-enforcement officer, firefighter, search and rescue personnel, and emergency medical services personnel who is killed in the line of duty. The exemption does not apply to that portion of the value of the residence in excess of the average assessed value of dwellings in the locality. The bill is pursuant to Article X, Section 6-B of the Constitution of Virginia, which was adopted by the voters in 2016.

H.B. 1889

Patron: Hugo

Local license taxes; exemption for certain defense production businesses. Clarifies that the exemption for wholesale manufacturers from local license taxes includes a manufacturer that is also a defense production business selling manufacturing, rebuilding, repair, and maintenance services to the United States or for which consent of the United States is required.

H.B. 1913

Patron: Anderson

Purchase of cigarettes for resale; penalties. Creates a new requirement that purchasers of cigarettes for resale must apply for a special cigarette exemption certificate from the Department of Taxation in order to not be liable for the payment of sales tax at the time of purchase. The bill sets forth numerous requirements that a taxpayer must meet in order to qualify for a cigarette exemption certificate and establishes processes and procedures for the application, renewal, denial, and revocation of the certificates. The bill creates new recordkeeping requirements for the sale or distribution of more than 50 cartons of cigarettes, or with a value greater than $10,000. The bill also makes technical changes. The provisions of the bill requiring the use of a cigarette exemption certificate have a delayed effective date of January 1, 2018.

H.B. 2169

Patron: Pillion

Gas severance tax. Extends the sunset date from January 1, 2018, to January 1, 2020, for the local gas severance tax that is dedicated to (i) the local Coal and Gas Road Improvement Fund, (ii) the Virginia Coalfield Economic Development Fund, and (iii) water, sewer, and natural gas systems and lines.

H.B. 2377

Patron: Freitas

Sales and use tax exemption; certain textbooks and other educational materials. Extends the sunset date from July 1, 2017, to July 1, 2022, for the sales and use tax exemption for textbooks and other educational materials that are withdrawn from inventory at book-publishing distribution facilities for free distribution to professors and other individuals who have an educational focus.