HB1575
Merchants' capital tax; separate classification, retailers.
Summary
As Passed House of Origin. 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 ... (More) 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. (Less)-
Bill History
- 01/14/2020 - House: Presented and ordered printed 20105515D
- 01/14/2020 - House: Referred to Committee on Finance
- 01/19/2020 - House: Impact statement from TAX (HB1575)
- 01/23/2020 - House: Assigned Finance sub: Subcommittee #2
- 02/03/2020 - House: House committee, floor amendments and substitutes offered
- 02/03/2020 - House: Subcommittee recommends reporting with substitute (9-Y 1-N)
- 02/05/2020 - House: Committee substitute printed 20106932D-H1
- 02/05/2020 - House: Reported from Finance with substitute (21-Y 1-N)
- 02/06/2020 - House: Read first time
- 02/07/2020 - House: Read second time
- 02/07/2020 - House: Committee substitute agreed to 20106932D-H1
- 02/07/2020 - House: Engrossed by House - committee substitute HB1575H1
- 02/10/2020 - House: Read third time and passed House (79-Y 19-N)
- 02/10/2020 - House: VOTE: Passage (79-Y 19-N)
- 02/11/2020 - Senate: Constitutional reading dispensed
- 02/11/2020 - Senate: Referred to Committee on Finance and Appropriations
- 02/19/2020 - House: Impact statement from TAX (HB1575H1)
- 02/25/2020 - Senate: Reported from Finance and Appropriations (16-Y 0-N)
- 02/26/2020 - Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/27/2020 - Senate: Read third time
- 02/27/2020 - Senate: Passed Senate (40-Y 0-N)
- 03/04/2020 - House: Enrolled
- 03/04/2020 - House: Bill text as passed House and Senate (HB1575ER)
- 03/05/2020 - House: Signed by Speaker
- 03/05/2020 - Senate: Signed by President
- 03/06/2020 - House: Impact statement from TAX (HB1575ER)
- 03/12/2020 - House: Enrolled Bill communicated to Governor on March 12, 2020
- 03/12/2020 - Governor: Governor's Action Deadline 11:59 p.m., April 11, 2020
- 03/31/2020 - Governor: Approved by Governor-Chapter 541 (effective 7/1/20)
- 03/31/2020 - Governor: Acts of Assembly Chapter text (CHAP0541)
