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2020 SESSION
HB 1575 Merchants' capital tax; separate classification, retailers.
Introduced by: Mark L. Cole (by request) | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Merchants' capital tax; separate classification; retailers. Provides that the merchants' capital of any retailer reported as inventory that is located in a structure that contains at least 200,000 square feet, with at least 200,000 square feet used solely to store such inventory, shall, along with certain wholesalers, be considered a separate classification and may be taxed at a lower rate than other classifications of merchants' capital. Under current law, only merchants' capital of wholesalers meeting a similar threshold of 100,000 square feet constitutes a separate class of property.
FULL TEXT
- 01/14/20 House: Presented and ordered printed 20105515D pdf | impact statement
- 02/05/20 House: Committee substitute printed 20106932D-H1 pdf | impact statement
- 03/04/20 House: Bill text as passed House and Senate (HB1575ER) pdf | impact statement
- 03/31/20 Governor: Acts of Assembly Chapter text (CHAP0541) pdf
AMENDMENTS
- House subcommittee amendments and substitutes adopted
- House committee, floor amendments and substitutes offered
HISTORY
- 01/14/20 House: Presented and ordered printed 20105515D
- 01/14/20 House: Referred to Committee on Finance
- 01/23/20 House: Assigned Finance sub: Subcommittee #2
- 02/03/20 House: Subcommittee recommends reporting with substitute (9-Y 1-N)
- 02/05/20 House: Committee substitute printed 20106932D-H1
- 02/05/20 House: Reported from Finance with substitute (21-Y 1-N)
- 02/06/20 House: Read first time
- 02/07/20 House: Read second time
- 02/07/20 House: Committee substitute agreed to 20106932D-H1
- 02/07/20 House: Engrossed by House - committee substitute HB1575H1
- 02/10/20 House: Read third time and passed House (79-Y 19-N)
- 02/10/20 House: VOTE: Passage (79-Y 19-N)
- 02/11/20 Senate: Constitutional reading dispensed
- 02/11/20 Senate: Referred to Committee on Finance and Appropriations
- 02/25/20 Senate: Reported from Finance and Appropriations (16-Y 0-N)
- 02/26/20 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/27/20 Senate: Read third time
- 02/27/20 Senate: Passed Senate (40-Y 0-N)
- 03/04/20 House: Enrolled
- 03/04/20 House: Bill text as passed House and Senate (HB1575ER)
- 03/05/20 House: Signed by Speaker
- 03/05/20 Senate: Signed by President
- 03/12/20 House: Enrolled Bill communicated to Governor on March 12, 2020
- 03/12/20 Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
- 03/31/20 Governor: Approved by Governor-Chapter 541 (effective 7/1/20)
- 03/31/20 Governor: Acts of Assembly Chapter text (CHAP0541)