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2016 SESSION

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Senate Committee on Finance

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

Clerk: Patty Lung
Staff: Lisa Wallmeyer, Nicole Brenner
Date of Meeting: January 20, 2016
Time and Place: 9:00 a.m. - Senate Room B

S.B. 99

Patron: Cosgrove

Real property tax exemption; spouse of military service member killed in action. Clarifies that "killed in action" includes a service member who dies of wounds received in action after reaching a medical treatment center, for purposes of the real property tax exemption on the residence of the surviving spouse.

S.B. 114

Patron: Petersen

Plastic bag tax in the Chesapeake Bay Watershed. Imposes a five-cent per bag tax on plastic bags provided to customers by certain retailers in localities located wholly within the Chesapeake Bay Watershed and directs revenues to be used to support the Chesapeake Bay Watershed Implementation Plan. The bill also allows every retailer that collects the tax to retain one cent of the five-cent tax.

S.B. 155

Patron: Favola

County taxes on cigarettes; increase. Allows Fairfax and Arlington Counties to increase their cigarette tax to double the amount levied under state law. Under current law, Fairfax and Arlington Counties can impose a tax equal to that imposed under state law, currently $0.30. The bill provides that if a county raises its taxes as a result of this bill, the revenues gained thereby shall annually be dedicated to spending on elementary or secondary education.

S.B. 160

Patron: Howell

Transient occupancy tax; Arlington County. Reinstates the authority of Arlington County, which expired January 1, 2012, to impose an additional transient occupancy tax at a rate not to exceed one-fourth of one percent. The revenues from the tax shall be spent solely for the purpose of promoting tourism and business travel in the county. The bill also removes the requirement that such revenues be in addition to the county's previous budgeted amount for the promotion of tourism and business travel.

S.B. 359

Patron: McDougle

Biennial appropriation act. Provides that the Commonwealth's biennial appropriations shall start on July 1 of odd-numbered years beginning with the biennial appropriation act for the period July 1, 2019, through June 30, 2021. The bill requires that the fiscal year beginning July 1, 2018, would not be a part of any biennial appropriation act (i.e., it would be a single-year transitional budget).

S.B. 366

Patron: Chafin

Real property tax exemption; disabled veterans and the spouse of a service member killed in action. Provides that the real property tax exemption for the residence of a disabled veteran, or the residence of the spouse of a service member killed in action, (i) includes trailers whether or not the wheels and other equipment previously used for mobility have been removed and (ii) applies to a house or trailer whether or not the veteran or the spouse own the land on which the house or trailer is located.

S.B. 372

Patron: McDougle

Obsolete tax statutes. Repeals obsolete tax-related statutes. This bill is a recommendation of the Code Commission.

S.B. 545

Patron: Hanger

Commonwealth's tax code; conformity with federal law; emergency. Advances conformity with the federal tax code from December 31, 2014, to December 31, 2015, and repeals the expiration date for conforming with enhancements to the federal earned income tax credit. The bill contains an emergency clause.

EMERGENCY