SB1588
Real property taxes; partial exemption for flood mitigation efforts.
Summary
As Introduced. Partial exemption from real property taxes for flood mitigation efforts.
Codifies an amendment to Article X, Section 6 of the Constitution of Virginia that was adopted by the voters on November 6, 2018, which enables a locality to provide by ordinance a partial exemption from real property taxes for flooding abatement, mitigation, or resiliency efforts for improved real estate that ... (More) is subject to recurrent flooding. The bill provides that exemptions may only be granted for qualifying flood improvements. Qualifying flood improvements are defined in the bill as improvements that do not increase the size of any impervious area and are made to qualifying structures or to land. Qualifying structures are defined as structures that were completed prior to July 1, 2018, or were completed more than 10 years prior to the completion of the improvements. For improvements made to land, the improvements must be made primarily for the benefit of one or more qualifying structures. No exemption shall be granted for any improvements made prior to July 1, 2018. (Less)-
Bill History
- 01/09/2019 - Senate: Prefiled and ordered printed; offered 01/09/19 19103418D
- 01/09/2019 - Senate: Referred to Committee on Finance
- 01/13/2019 - Senate: Impact statement from TAX (SB1588)
- 01/15/2019 - Senate: Reported from Finance (14-Y 2-N)
- 01/16/2019 - Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/17/2019 - Senate: Read second time and engrossed
- 01/18/2019 - Senate: Read third time and passed Senate (31-Y 9-N)
- 01/22/2019 - House: Placed on Calendar
- 01/22/2019 - House: Read first time
- 01/22/2019 - House: Referred to Committee on Finance
- 02/01/2019 - House: Assigned Finance sub: Subcommittee #2
- 02/06/2019 - House: Subcommittee recommends reporting (6-Y 1-N)
- 02/11/2019 - House: Reported from Finance (18-Y 3-N)
- 02/12/2019 - House: Read second time
- 02/13/2019 - House: Read third time
- 02/13/2019 - House: Passed House (87-Y 10-N)
- 02/13/2019 - House: VOTE: PASSAGE (87-Y 10-N)
- 02/13/2019 - House: Reconsideration of House passage agreed to by House
- 02/13/2019 - House: Passed House (88-Y 10-N)
- 02/13/2019 - House: VOTE: PASSAGE #2 (88-Y 10-N)
- 02/18/2019 - Senate: Enrolled
- 02/18/2019 - Senate: Bill text as passed Senate and House (SB1588ER)
- 02/18/2019 - House: Signed by Speaker
- 02/19/2019 - Senate: Signed by President
- 02/20/2019 - Senate: Enrolled Bill Communicated to Governor on February 20, 2019
- 02/20/2019 - Governor: Governor's Action Deadline Midnight, March 26, 2019
- 02/21/2019 - Senate: Impact statement from TAX (SB1588ER)
- 03/21/2019 - Governor: Approved by Governor-Chapter 754 (effective 7/1/19)
- 03/21/2019 - Governor: Acts of Assembly Chapter text (CHAP0754)
