Several Helpful Measures Reported from House Finance

January 30, 2018

The House Finance Committee reported a couple of helpful bills on January 29.

HB 119 (Thomas) creates a separate class of merchants’ capital for certain wholesaler inventory, which would allow localities that impose a merchants’ capital tax to impose a lower tax rate on that inventory.

HB 495 (Hodges) allows local commissioners of the revenue, treasurers, and directors of finance (in those localities that have abolished the offices of commissioner and treasurer) to disclose tax information to third-party contractors (other than outside auditors), who would be prohibited from further disclosure of the information.  The bill largely grants localities the same authority as that currently afforded to the state Department of Taxation and will be helpful for those localities undertaking projects, such as IT upgrades, that require outside expertise.

VACo Contact: Katie Boyle

- Related Blog Posts -

County Government Day Bulletin

February 5, 2015

View Blog Post

Work Continues to Implement Family First Prevention Services Act

November 2, 2018

View Blog Post

Virginia General Assembly Convenes

January 10, 2019

View Blog Post