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1997 SESSION

978458160
HOUSE BILL NO. 2363
AMENDMENT IN THE NATURE OF A SUBSTITUTE
(Proposed by the House Committee on Finance
on January 30, 1997)
(Patron Prior to Substitute--Delegate Cooper)
A BILL to amend the Code of Virginia by adding a section numbered 58.1-3516.2, relating to payment of personal property tax by lessees.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 58.1-3516.2 as follows:

§ 58.1-3516.2. Payment of taxes on leased property by lessee; information to be furnished by lessor.

The lessor shall provide to every taxpayer that leases any motor vehicle pursuant to a contract that requires the lessee to pay the taxes thereon as provided for under this chapter, a written notice in bold print regarding the taxes to be paid by the lessee, and the lessor shall forward any such tax bill to the lessee within ten business days of receipt.