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1998 SPECIAL SESSION I
HB 4005 Local Relief Act of 1998; tang. per. prop. tax & school construction.
Introduced by: John H. Rust, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Local Relief Act of 1998; tangible personal property tax and school construction. Requires the Commonwealth to pay, directly to taxpayers for tax year 1998 and to localities for tax years 1999 and thereafter, a portion of the tangible personal property tax levied on any passenger car, motorcycle, and pickup or panel truck that is owned or leased by a natural person and used for nonbusiness purposes. Reimbursements for tax year 1998 will be 12.5 percent of the tax on the first $20,000 of value of the qualifying vehicle, based on the tax rate and assessment practices in effect on August 1, 1997. For tax year 1999, the payments to localities will be 27.5 percent of the reimbursable amount. For 2000, the amount will be 47.5 percent of the reimbursable amount; for 2001, 70 percent of the reimbursable amount; and for 2002 and thereafter, 100 percent of the reimbursable amount. The level of payments will not increase under this schedule if (i) actual general fund revenues for a fiscal year are less than projected general fund revenues by one percent or more; (ii) forecasted general fund revenue growth is less than five percent compared to the preceding fiscal year; or (iii) general fund revenues available for appropriation for either year of a biennial budget are projected to be less than the general funds appropriated for such years. The cost of the program is capped at 8.5 percent of general fund revenues in fiscal year 2000-2001 or thereafter. If the program cost is expected to exceed this limitation, the level of payments will be reduced proportionately. Personal property tax bills for tax year 1999 and thereafter shall state the amount that the Commonwealth will reimburse to the locality, and taxpayers will receive a deduction for this amount. The measure also revises the existing school construction grants program to (i) include renovations and retrofitting of public school buildings (ii) provide for the apportionment and disbursement of the funds with two-thirds of the available funds being apportioned among school divisions on a pro rata basis according to average daily membership adjusted by the locality's composite index and one-third of the grant funds allocated equally to each school division. The school construction grants program will be funded in part from unclaimed lottery prizes and increasing percentages of net lottery proceeds.
FULL TEXT
- 04/23/98 House: Presented & ordered printed, prefiled 04/23/98 987180445 pdf
- 04/23/98 House: Committee substitute printed 983419445-H1 pdf
- 04/24/98 House: Printed as engrossed 983419445-E pdf
- 04/27/98 Senate: Floor substitute printed 989864445-S1 (Chichester) pdf
AMENDMENTS
HISTORY
- 04/23/98 House: Presented & ordered printed, prefiled 04/23/98 987180445
- 04/23/98 House: Referred to Committee on Finance
- 04/23/98 House: Reported from Finance with sub. (22-Y 1-N)
- 04/23/98 House: Committee substitute printed 983419445-H1
- 04/24/98 House: Read first time
- 04/24/98 House: Constitutional readings dispensed
- 04/24/98 House: Committee substitute agreed to 983419445
- 04/24/98 House: Amendment by Mr. Marshall rejected
- 04/24/98 House: Amendments # 1 & 3 by Mr. Rust agreed to (65-Y 34-N)
- 04/24/98 House: VOTE: ADOPTION (65-Y 34-N)
- 04/24/98 House: Amendments by Mr. Marshall offered
- 04/24/98 House: Amendments by Mr. Marshall ruled not germane
- 04/24/98 House: Ruling of Chair sustained (91-Y 3-N)
- 04/24/98 House: VOTE: SUSTAIN RULING OF CHAIR (91-Y 3-N)
- 04/24/98 House: Amendment by Mr. Marshall rejected
- 04/24/98 House: Motion for pending question agreed to
- 04/24/98 House: Pending question ordered
- 04/24/98 House: Amendment # 2 by Mr. Rust agreed to (88-Y 11-N)
- 04/24/98 House: VOTE: ADOPTION (88-Y 11-N)
- 04/24/98 House: Amendment by Mr. Marshall withdrawn
- 04/24/98 House: Amendment by Mr. Marshall agreed to (60-Y 33-N)
- 04/24/98 House: VOTE: ADOPTION (60-Y 33-N)
- 04/24/98 House: Motion for pending question agreed to
- 04/24/98 House: Pending question ordered
- 04/24/98 House: Amendments by Mr. Jackson agreed to (50-Y 48-N)
- 04/24/98 House: VOTE: ADOPTION (50-Y 48-N)
- 04/24/98 House: Amendment by Mr. Marshall reconsidered (54-Y 45-N)
- 04/24/98 House: VOTE: RECONSIDERATION (54-Y 45-N)
- 04/24/98 House: Amendment by Mr. Marshall agreed to (52-Y 47-N)
- 04/24/98 House: VOTE: ADOPTION #2 (52-Y 47-N)
- 04/24/98 House: Engrossed by House - com. sub. w/amds. 983419445-EH1
- 04/24/98 House: Passed House (99-Y 0-N)
- 04/24/98 House: VOTE: PASSAGE (99-Y 0-N)
- 04/24/98 House: Communicated to Senate
- 04/24/98 Senate: Constitutional reading dispensed
- 04/24/98 Senate: Referred to Committee on Finance
- 04/24/98 Senate: Rules suspended (38-Y 0-N)
- 04/24/98 Senate: VOTE: SUSPEND THE RULES R (38-Y 0-N)
- 04/24/98 Senate: Discharged from Finance
- 04/24/98 Senate: Constitutional reading dispensed
- 04/24/98 Senate: Read third time
- 04/24/98 Senate: Reading of substitute waived
- 04/24/98 Senate: Substitute by Sen. Chichester agreed to 989864445-S1
- 04/24/98 Senate: Reading of amendment waived
- 04/24/98 Senate: Amendment by Sen. Trumbo agreed to
- 04/24/98 Senate: Engrossed by Senate - fl. sub. w/amd. 989864445-ES1
- 04/24/98 Senate: Passed Senate with sub. w/amd. (35-Y 0-N)
- 04/24/98 Senate: VOTE: PASSAGE R (35-Y 0-N)
- 04/24/98 Senate: Rec. of Sen. passage agreed to by Senate (37-Y 0-N)
- 04/24/98 Senate: VOTE: RECONSIDER R (37-Y 0-N)
- 04/24/98 Senate: Passed Senate with sub. w/amd. (36-Y 0-N)
- 04/24/98 Senate: VOTE: PASSAGE R (36-Y 0-N)
- 04/24/98 Senate: Doc. to protest passage entered by Sen.Reynolds (31-Y 0-N)
- 04/24/98 Senate: VOTE: ENTER PROTEST R (31-Y 0-N)
- 04/24/98 House: No action taken on Senate sub. w/amd.
- 04/24/98 House: Failed to pass in House
- 04/24/98 House: Printed as engrossed 983419445-E
- 04/27/98 Senate: Floor substitute printed 989864445-S1 (Chichester)