Virginia · 2025 Regular Session · Bill
HB 2147: Tax increment financing; use of other local taxes.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 2147 is a bill introduced in the Virginia House on January 7, 2025. According to its official title, it concerns: Tax increment financing; use of other local taxes. Primary sponsor: Paul V. Milde. Most recent recorded action (February 4, 2025): Left in Finance.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Tax increment financing; use of other local taxes. Authorizes the governing body of a county, city, or town to apply tax revenues from sources other than real estate taxes for use in tax increment financing of development projects. Under current law, only real estate taxes are specifically authorized to be used for such projects. The governing body may choose any or all of such taxes to be applied in such manner. The amount of revenues to be so used shall be the amount of the increase of such taxes collected in the development project area in a given year compared with the base amount of revenues prior to the establishment of such area. The local taxes that may be so applied include local sales and use taxes, merchants' capital taxes, license taxes, admissions taxes, transient occupancy taxes, meals taxes, and other local taxes and fees for utilities and transportation purposes.
Sponsors
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Paul V. Milde | Primary sponsor | Not applicable (committee) | — | — |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Finance
- Assigned Finance sub: Subcommittee #1
- Impact statement from TAX (HB2147)
- Referred to Committee on Finance
- Prefiled and ordered printed; Offered 01-13-2025 25101270D