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House rejects bill to restrict local taxing power

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Galax is relying on machinery and tools tax revenue pay for incentives it offered new and expanding industries in the city.

By APRIL WRIGHT, Staff

and Landmark News Service

 

RICHMOND — Yielding to protests from localities, the Virginia House of Delegates on Tuesday defeated an effort to restrict local taxing power.

Del. Bob Purkey’s bill, HB512, would have prohibited localities from imposing the machinery and tools tax on new manufacturing equipment for the first three years after it is put into service.


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