Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxation Insurance Vehicles topic
No spam. Unsubscribe anytime.
Subcommittee 2 sends two tax-related bills to full committee after unanimous vote
Summary
Subcommittee 2, chaired by Bennett Parker, recommended reporting HB 1682 and HB 1841 to the full House Finance Committee by an 8-0 vote. HB 1682 would exempt certain commuter-rail insurance from taxes and fees; HB 1841 would clarify how the Department of Taxation values abandoned vehicles that fail to sell at auction.
Bennett Parker, chair of Subcommittee 2, told the House Finance Committee that the subcommittee recommended reporting two bills — HB 1682 and HB 1841 — to the full committee by an 8-0 vote.
"We considered house bill 1682 by delegate Cohen. The bill exempts surplus line insurance policies purchased solely for commuter rail service, jointly operated by the Northern Virginia Transportation Commission and the Potomac and Rappahannock Transportation District from annual taxes and license fees or taxes. We recommend reporting 8 to 0 and I so move," Parker said during the committee meeting.
Parker continued with the second item in the block: "House Bill 1841 by delegate Wyatt clarifies the basis by which the Department of Taxation assesses the value of an abandoned vehicle that did not sell at auction. We recommended reporting 8 to 0 and I so move." Committee members said there were no amendments to either bill.
The clerk conducted a block roll call and members voted unanimously to report the two bills. Both measures were advanced together as a single block for reporting to the full committee.
HB 1682 would exempt surplus line insurance policies bought solely for commuter-rail service jointly operated by the Northern Virginia Transportation Commission (NVTC) and the Potomac and Rappahannock Transportation Commission (PRTC) from annual taxes and license fees; HB 1841 would clarify the Department of Taxation's method for valuing an abandoned vehicle that fails to sell at auction. The committee record shows no amendments and no public testimony on either bill at this meeting.
Both bills were reported to the full committee by an 8-0 vote and will proceed in the legislative process for further consideration.
