Richmond tax amnesty sailing through General Assembly

According to the Richmond Times-Dispatch, a "Senate committee yesterday approved the City of Richmond's bid to implement a tax-amnesty program that could allow it to collect millions from delinquent taxpayers.

The Committee on Local Government unanimously approved House Bill 796, sponsored by Del. Jennifer L. McClellan, D-Richmond. The legislation needs only to pass the full Senate before heading to Gov. Bob McDonnell. The Virginia Constitution does not give local governments the power to offer tax-amnesty programs, so they must seek approval from lawmakers. Because it is considered emergency legislation, it could take effect immediately upon being signed.

Officials said the city could offer amnesty -- no penalties or interest on back taxes paid off -- to taxpayers currently delinquent in real estate, personal property, and machine and tool taxes, which account for more than 60 percent of the city's general-fund revenues."

 

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Posted on Thursday, February 25, 2010 - 11:44am