Authorizes localities that require use value assessment and taxation to provide by ordinance that the annual increase in the assessed value of eligible property shall not exceed a specified dollar amount per acre.
Advances conformity of the Commonwealth's tax code with the federal tax code to December 31, 2018, effective starting in taxable year 2018. Starting in taxable year 2019, the bill deconforms from the provisions of the federal Tax Cuts and Jobs Act (TCJA) that limit the deduction for state and local taxes and that suspend the overall limit on itemized deductions.
Changes the definition of small business, beginning July 1, 2019, to mean a business that (i) is not dominant in its field of operation, as determined by the Department of Small Business and Supplier Diversity (the Department); (ii) is at least 51 percent independently owned and operated by one or more individuals who are U.S. citizens or legal resident aliens; and (iii) together with affiliates, has 250 or fewer employees and average annual gross receipts, excluding the cost of goods and equipment, of $10 million or less averaged over the previous three years. Under current law, a business must be independently owned and controlled by one or more individuals who are U.S. citizens or legal resident aliens and, together with affiliates, have 250 or fewer employees or annual gross receipts of $10 million or less averaged over the previous three years. The bill provides that any business entity that the Department has certified as a small business prior to July 1, 2019, shall have the expiration date of such certification extended for an additional one-year period, after such time the business shall be required to meet the requirements for certification in effect at that time. The bill also provides that the Director of the Department shall annually review forms and processes related to small business certification to reduce the administrative and paperwork burden on small businesses seeking certification and recertification. The bill (a) includes a definition of "field of operation"; (b) requires the Secretary of Commerce and Trade to evaluate the small business certification program at three-year intervals, reporting to the Governor and General Assembly by December 1, 2022, and December 1, 2025; and (c) directs the Department to establish an educational outreach initiative to inform and prepare businesses for the changes in the small business certification program.
Requires the Virginia Marine Resources Commission (the Commission) to adopt regulations to implement the Atlantic States Marine Fisheries Commission's Fishery Management Plan for Atlantic Menhaden and authorizes the Commission to adopt regulations for managing the Commonwealth's menhaden fishery. The bill also requires that any moratorium on the fishery be subject to legislative review. The bill repeals several Code sections relating to quotas, allocation of allowable landings, and administrative procedures that will be included in a regulatory framework for managing the fishery.
Authorizes casino gaming in the Commonwealth to be regulated by the Virginia Lottery Board (the Board). The bill specifies the licensing requirements for casino gaming and imposes criminal and civil penalties for violations of the casino gaming law. Under the bill, casino gaming shall be conducted only (i) by an Indian tribe acknowledged by the United States Assistant Secretary-Indian Affairs as an Indian tribe within the meaning of Federal law that has the authority to conduct gaming activities as a matter of claimed inherent authority or under the authority of the Indian Gaming Regulatory Act (25 U.S.C. 2701 et seq.) and (ii) within a city with a population greater than 200,000. The bill imposes a tax of 10 percent on the adjusted gross receipts of licensees and provides for how the tax proceeds are disbursed. In addition, a referendum must be passed in the city on the question of allowing casino gaming in the city. The bill requires the Board to establish and implement a voluntary exclusion program allowing individuals to voluntarily list themselves as being barred from entering a casino gaming establishment or other facility under the jurisdiction of the Board. The bill also establishes the Problem Gambling Treatment and Support Fund administered by the Commissioner of Behavioral Health and Developmental Services to provide counseling and other support services for compulsive and problem gamblers, develop problem gambling treatment and prevention programs, and provide grants to support organizations that provide assistance to compulsive gamblers.
Amends the definition of "agritourism activity," for purposes of liability, as well as the statutory limit on the imposition of restrictions by local governments, to include service as a wedding venue for not more than 12 weddings per calendar year, each wedding involving not more than 250 guests.
