SB799
Tangible personal property tax relief; rate of taxation.
Status:
Killed
Latest Action:
Feb. 3, 2026
Senate: Passed by indefinitely in Finance and Appropriations (10-Y 5-N)
Chief Patron:
Tara Durant (R)
Session:
2026 Regular Session
Summary
As Introduced. Tangible personal property tax relief; rate of taxation.
Removes the $950 million cap, beginning in tax year 2027 and all tax years thereafter, on the amount of tangible personal property tax relief reimbursed to localities by the Commonwealth. The bill requires, for tax year 2027 and all tax years thereafter, each county, city, or town to reduce its ... (More) local tax rate on qualifying vehicles to no greater than $0.00000001 per $100 of assessed value of the qualifying vehicle. (Less)-
Bill History
- 01/23/2026 - Senate: Presented and ordered printed 26105863D
- 01/23/2026 - Senate: Referred to Committee on Finance and Appropriations
- 01/29/2026 - Senate: Fiscal Impact statement From TAX (1/29/2026 11:07 am)
- 02/03/2026 - Senate: Passed by indefinitely in Finance and Appropriations (10-Y 5-N)
