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2004 SESSION

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HJ 82 Cultural instit., nonstate agency; Dept of Tax. to collect sales tax data pertain. to econo. impact.

Introduced by: William H. Fralin, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Study; nonstate cultural institutions. Requests the Department of Taxation to collect sales tax data concerning the economic impact of nonstate cultural institutions on the Commonwealth. The Department of Taxation must compile sales tax collections for businesses in the immediate vicinity of nonstate agency cultural institutions located in the cities of Norfolk, Lynchburg, Richmond, and Roanoke, and in the County of Fairfax that received more than $50,000 in state funds in a single year within the last five years.

SUMMARY AS PASSED HOUSE:

Study; nonstate cultural institutions; report. Requests the Department of Taxation to collect information concerning the economic impact of nonstate cultural institutions on the Commonwealth. The Department of Taxation must compile this information regarding such agencies in the cities of Norfolk, Lynchburg, Richmond, and Roanoke, and in the County of Fairfax that received more than $50,000 in state funds in a single year in each biennium over the last five years.

SUMMARY AS INTRODUCED:

Study; nonstate cultural institutions; report. Requests the Department of Taxation to study the relative economic impact of nonstate cultural institutions that receive direct and indirect benefits from the Commonwealth. In particular, in conducting its study, the Department of Taxation shall study the relative benefit to businesses located near such institutions, compared with the cost of direct and indirect appropriations and other similar benefits made to such institutions by the Commonwealth. Such study shall focus upon the incremental additional benefit afforded such businesses resulting from each incremental appropriation by the Commonwealth.