Passed One ChamberFiled Jan 13, 2026
Sponsor: Watts
Latest Action
Continued from last session
Jul 21, 2026
Summary
The bill requires that tangible personal property used in a trade or business be assessed for tax purposes based on a percentage of its original purchase price. It applies to all such property except items already covered by different valuation rules in existing law. The provisions will not take effect unless the General Assembly reenacts them in the 2027 session.
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