§ 58.1-609.12. Reports to General Assembly on tax exemptions studies.
A. The Tax Commissioner shall determine the fiscal, economic and policyimpact of each sales and use tax exemption set out in §§ 58.1-609.10 and58.1-609.11 and report such findings to the chairmen of the House and SenateFinance Committees and the chairman of the House Appropriations Committee nolater than December 1 of each year. Subgroups of the exemptions shall bereviewed in periodic cycles and reports issued on a rotating basis inaccordance with a schedule determined by the Tax Commissioner, excluding thesales and use tax exemptions for nonprofit entities provided by §58.1-609.11, which shall be reviewed and reported on annually. When suchreports have been completed for each subgroup of the sales and use taxexemptions, the Tax Commissioner shall repeat the process beginning with thesubgroup of exemptions for which a report was made in 2007. No exemptionshall be analyzed under the provisions of this section more frequently thanonce every five years, excluding the annual fiscal impact of the sales anduse tax exemptions for nonprofit entities, which shall be studied each year.
B. When the Tax Commissioner investigates and analyzes the tax exemptions in§ 58.1-609.10, the following information shall be considered and included inthe report:
1. Estimate of foregone state and local revenues as a direct result of theexemption;
2. Beneficiaries of the exemption;
3. Direct or indirect local, state, or federal government assistance receivedby the persons or entities granted the exemption, to the extent suchinformation is reasonably available;
4. The extent to which the comparable person, entity, property, service, orindustry is exempt from the retail sales and use tax in other states,particularly states contiguous to the Commonwealth;
5. Any external statutory, constitutional, or judicial mandates supportingthe exemption;
6. Other Virginia taxes to which the person, entity, property, service, orindustry is subject;
7. Similar taxpayers who are not entitled to a retail sales and use taxexemption; and
8. Other criteria, facts or circumstances that may be relevant to theexemption.
C. When the Tax Commissioner investigates and analyzes the tax exemptions in§ 58.1-609.11, he shall report on the extent to which the person, entity,property, service, or industry is exempt from the retail sales and use tax inother states, particularly states contiguous to the Commonwealth.
D. For purposes of this section, the Department of Taxation and theDepartment of Agriculture and Consumer Services shall be allowed to shareinformation when necessary to supplement the information required to bereported under this section.
§ 58.1-609.12. Reports to General Assembly on tax exemptions studies.
A. The Tax Commissioner shall determine the fiscal, economic and policyimpact of each sales and use tax exemption set out in §§ 58.1-609.10 and58.1-609.11 and report such findings to the chairmen of the House and SenateFinance Committees and the chairman of the House Appropriations Committee nolater than December 1 of each year. Subgroups of the exemptions shall bereviewed in periodic cycles and reports issued on a rotating basis inaccordance with a schedule determined by the Tax Commissioner, excluding thesales and use tax exemptions for nonprofit entities provided by §58.1-609.11, which shall be reviewed and reported on annually. When suchreports have been completed for each subgroup of the sales and use taxexemptions, the Tax Commissioner shall repeat the process beginning with thesubgroup of exemptions for which a report was made in 2007. No exemptionshall be analyzed under the provisions of this section more frequently thanonce every five years, excluding the annual fiscal impact of the sales anduse tax exemptions for nonprofit entities, which shall be studied each year.
B. When the Tax Commissioner investigates and analyzes the tax exemptions in§ 58.1-609.10, the following information shall be considered and included inthe report:
1. Estimate of foregone state and local revenues as a direct result of theexemption;
2. Beneficiaries of the exemption;
3. Direct or indirect local, state, or federal government assistance receivedby the persons or entities granted the exemption, to the extent suchinformation is reasonably available;
4. The extent to which the comparable person, entity, property, service, orindustry is exempt from the retail sales and use tax in other states,particularly states contiguous to the Commonwealth;
5. Any external statutory, constitutional, or judicial mandates supportingthe exemption;
6. Other Virginia taxes to which the person, entity, property, service, orindustry is subject;
7. Similar taxpayers who are not entitled to a retail sales and use taxexemption; and
8. Other criteria, facts or circumstances that may be relevant to theexemption.
C. When the Tax Commissioner investigates and analyzes the tax exemptions in§ 58.1-609.11, he shall report on the extent to which the person, entity,property, service, or industry is exempt from the retail sales and use tax inother states, particularly states contiguous to the Commonwealth.
D. For purposes of this section, the Department of Taxation and theDepartment of Agriculture and Consumer Services shall be allowed to shareinformation when necessary to supplement the information required to bereported under this section.
§ 58.1-609.12. Reports to General Assembly on tax exemptions studies.
A. The Tax Commissioner shall determine the fiscal, economic and policyimpact of each sales and use tax exemption set out in §§ 58.1-609.10 and58.1-609.11 and report such findings to the chairmen of the House and SenateFinance Committees and the chairman of the House Appropriations Committee nolater than December 1 of each year. Subgroups of the exemptions shall bereviewed in periodic cycles and reports issued on a rotating basis inaccordance with a schedule determined by the Tax Commissioner, excluding thesales and use tax exemptions for nonprofit entities provided by §58.1-609.11, which shall be reviewed and reported on annually. When suchreports have been completed for each subgroup of the sales and use taxexemptions, the Tax Commissioner shall repeat the process beginning with thesubgroup of exemptions for which a report was made in 2007. No exemptionshall be analyzed under the provisions of this section more frequently thanonce every five years, excluding the annual fiscal impact of the sales anduse tax exemptions for nonprofit entities, which shall be studied each year.
B. When the Tax Commissioner investigates and analyzes the tax exemptions in§ 58.1-609.10, the following information shall be considered and included inthe report:
1. Estimate of foregone state and local revenues as a direct result of theexemption;
2. Beneficiaries of the exemption;
3. Direct or indirect local, state, or federal government assistance receivedby the persons or entities granted the exemption, to the extent suchinformation is reasonably available;
4. The extent to which the comparable person, entity, property, service, orindustry is exempt from the retail sales and use tax in other states,particularly states contiguous to the Commonwealth;
5. Any external statutory, constitutional, or judicial mandates supportingthe exemption;
6. Other Virginia taxes to which the person, entity, property, service, orindustry is subject;
7. Similar taxpayers who are not entitled to a retail sales and use taxexemption; and
8. Other criteria, facts or circumstances that may be relevant to theexemption.
C. When the Tax Commissioner investigates and analyzes the tax exemptions in§ 58.1-609.11, he shall report on the extent to which the person, entity,property, service, or industry is exempt from the retail sales and use tax inother states, particularly states contiguous to the Commonwealth.
D. For purposes of this section, the Department of Taxation and theDepartment of Agriculture and Consumer Services shall be allowed to shareinformation when necessary to supplement the information required to bereported under this section.
