Mark L. Cole
- Republican
Primary
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.
Merchants' capital tax; separate classification;retailers. Provides that the merchants' capital of any retailerreported as inventory that is located in a structure that containsat least 100,000 square feet, with at least 100,000 square feet usedsolely to store such inventory, shall be considered a separate classificationand may be taxed at a lower rate than other classifications of merchants'capital. Under current law, only merchants' capital of wholesalers meeting this description constitutes a separate class of property.
Approved by Governor-Chapter 541 (effective 7/1/20)
Governor's Action Deadline 11:59 p.m., April 11, 2020
Enrolled Bill communicated to Governor on March 12, 2020
Impact statement from TAX (HB1575ER)
Signed by President
Signed by Speaker
Enrolled
Read third time
Passed Senate (40-Y 0-N)
Constitutional reading dispensed (38-Y 0-N)
Reported from Finance and Appropriations (16-Y 0-N)
Impact statement from TAX (HB1575H1)
Constitutional reading dispensed
Referred to Committee on Finance and Appropriations
VOTE: Passage (79-Y 19-N)
Read third time and passed House (79-Y 19-N)
Engrossed by House - committee substitute HB1575H1
Committee substitute agreed to 20106932D-H1
Read second time
Read first time
Reported from Finance with substitute (21-Y 1-N)
Committee substitute printed 20106932D-H1
Subcommittee recommends reporting with substitute (9-Y 1-N)
House committee, floor amendments and substitutes offered
Assigned Finance sub: Subcommittee #2
Impact statement from TAX (HB1575)
Referred to Committee on Finance
Presented and ordered printed 20105515D
| Bill Text Versions | Format |
|---|---|
| Impact statement from TAX (HB1575) | HTML |
| Engrossed by House - committee substitute HB1575H1 | HTML |
| Bill text as passed House and Senate (HB1575ER) | HTML |
| Acts of Assembly Chapter text (CHAP0541) | HTML |
| Document | Format |
|---|---|
| No related documents. |
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