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2019 SESSION
HB 692 Virginia Regional Industrial Facilities Act; revenue sharing, composite index.
Introduced by: Daniel W. Marshall, III | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Virginia Regional Industrial Facilities Act; revenue sharing; composite index. Requires the Department of Taxation's calculation of true values as applied to the Commonwealth's composite index of local ability-to-pay to take into account an arrangement by localities entered into pursuant to the Virginia Regional Industrial Facilities Act whereby a portion of tax revenue is initially paid to one locality and redistributed to another locality. The bill requires such calculation to properly apportion the percentage of tax revenue ultimately received by each locality. The bill has a delayed effective date of July 1, 2020.
FULL TEXT
- 01/09/18 House: Prefiled and ordered printed; offered 01/10/18 18104538D pdf | impact statement
- 02/09/18 House: Committee substitute printed 18106622D-H1 pdf | impact statement
AMENDMENTS
HISTORY
- 01/09/18 House: Prefiled and ordered printed; offered 01/10/18 18104538D
- 01/09/18 House: Referred to Committee on Counties, Cities and Towns
- 01/17/18 House: Assigned CC & T sub: Subcommittee #2
- 01/18/18 House: Subcommittee recommends reporting (8-Y 0-N)
- 01/18/18 House: Subcommittee recommends referring to Committee on Appropriations
- 01/19/18 House: Reported from Counties, Cities and Towns (21-Y 0-N)
- 01/19/18 House: Referred to Committee on Appropriations
- 01/22/18 House: Assigned App. sub: Elementary & Secondary Education
- 02/07/18 House: Subcommittee recommends reporting with substitute (8-Y 0-N)
- 02/09/18 House: Reported from Appropriations with substitute (22-Y 0-N)
- 02/09/18 House: Committee substitute printed 18106622D-H1
- 02/10/18 House: Read first time
- 02/12/18 House: Read second time
- 02/12/18 House: Committee substitute agreed to 18106622D-H1
- 02/12/18 House: Engrossed by House - committee substitute HB692H1
- 02/13/18 House: Read third time and passed House (100-Y 0-N)
- 02/13/18 House: VOTE: PASSAGE (100-Y 0-N)
- 02/14/18 Senate: Constitutional reading dispensed
- 02/14/18 Senate: Referred to Committee on Local Government
- 02/20/18 Senate: Reported from Local Government (13-Y 0-N)
- 02/20/18 Senate: Rereferred to Finance
- 02/27/18 Senate: Continued to 2019 in Finance (11-Y 1-N)
- 11/30/18 Senate: Left in Finance