SB 701

  • Virginia Senate Bill
  • 2022 Regular Session
  • Introduced in Senate Jan 21, 2022
  • Passed Senate Feb 04, 2022
  • Passed House Feb 24, 2022
  • Signed by Governor Apr 08, 2022

Retail Sales and Use Tax; extends sunset date for exemption of aircraft components.

Abstract

Sales and use tax exemption; aircraft components. Extends the sunset date for the sales and use tax exemption for parts, engines, and supplies used for maintaining, repairing, or reconditioning aircraft or any aircraft's avionics system, engine, or component parts from July 1, 2022, to July 1, 2025. The bill also restricts the exemption for manned systems to aircraft with a maximum takeoff weight of at least 2,400 pounds. This bill is identical to HB 462.

Sales and use tax exemption; aircraft components.Eliminates the sunset date for the sales and use tax exemption for parts, engines, and supplies used for maintaining, repairing,or reconditioning aircraft or any aircraft's avionics system, engine,or component parts.

Bill Sponsors (1)

Votes


Actions


Apr 08, 2022

Office of the Governor

Approved by Governor-Chapter 228 (effective 7/1/22)

Mar 11, 2022

Office of the Governor

Governor's Action Deadline 11:59 p.m., April 11, 2022

Senate

Enrolled Bill Communicated to Governor on March 11, 2022

Mar 01, 2022

Senate

Impact statement from TAX (SB701ER)

Feb 28, 2022

Senate

Enrolled

House

Signed by Speaker

Senate

Signed by President

Feb 24, 2022

House

Passed House BLOCK VOTE (99-Y 0-N)

House

VOTE: Block Vote Passage (99-Y 0-N)

House

Read third time

Feb 23, 2022

House

Read second time

Feb 21, 2022

House

Reported from Finance (22-Y 0-N)

Feb 18, 2022

House

Read first time

House

Placed on Calendar

House

Referred to Committee on Finance

Feb 17, 2022

Senate

Impact statement from TAX (SB701S1)

Feb 04, 2022

Senate

Read third time and passed Senate (39-Y 0-N)

Feb 03, 2022

Senate

Engrossed by Senate - committee substitute SB701S1

Senate

Read second time

Senate

Committee substitute agreed to 22105693D-S1

Senate

Reading of substitute waived

Feb 02, 2022

Senate

Constitutional reading dispensed (40-Y 0-N)

Feb 01, 2022

Senate

Senate committee, floor amendments and substitutes offered

Senate

Reported from Finance and Appropriations with substitute (15-Y 0-N)

Senate

Committee substitute printed 22105693D-S1

Jan 23, 2022

Senate

Impact statement from TAX (SB701)

Jan 21, 2022

Senate

Presented and ordered printed 22104399D

Senate

Referred to Committee on Finance and Appropriations

Bill Text

Bill Text Versions Format
Presented and ordered printed 22104399D PDF HTML
Committee substitute printed 22105693D-S1 PDF HTML
SB701ER PDF HTML
CHAP0228 PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: SB701FER161.PDF PDF
Fiscal Impact Statement: SB701FS1161.PDF PDF
Fiscal Impact Statement: SB701F161.PDF PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Virginia General Assembly.

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