2014 Special Session I

Budget Amendments - HB5002 (Floor Approved)

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Dept of Tax - Reporting of Cigarette Tax Stamp Issues (language only)

Item 270 #3h

Item 270 #3h

Taxation, Department of

Page 218, after line 4, insert:
"R.1. The Virginia Department of Taxation shall report, as provided in subsection 2., to the Virginia State Crime Commission and the Chairmen of the House Appropriations and Senate Finance Committee regarding the number and total cost of incidents arising during stamping operations in Virginia, brought to their attention by Virginia authorized stamping agents, law enforcement officials or others, that result in the stamping agents incurring a cost equal to or greater than $500.  Cost means damaged tax stamps, loss of productivity due to heat application setting modifications and financial technical assistance required to modify heat application operations.
2. The Department of Taxation shall report on a quarterly basis beginning on July 1, 2014 and concluding on June 30, 2015 on the number and total cost of incidents arising during Virginia tax stamping operations that are brought to its attention in the immediately preceding quarter.  Provided, however, the July 1, 2014 report shall include incidents arising between April 1, 2014 and June 30, 2014.  All information provided to the Department of Taxation regarding incidents shall remain exempt as provided under The Freedom of Information Act."

(This amendment includes language specifying the reporting of incidents involving the processing of stamping cigarettes and the collection of tobacco taxes.)