Bill Type
Long Title
AN ACT IMPOSING A LAND CONVERSION TAX, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
Date filed
July 24, 1998
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB01300 |
| FULL TITLE : AN ACT IMPOSING A LAND CONVERSION TAX, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED |
| ABSTRACT : Imposes a land conversion tax of ten percent (10%) on all agricultural lands converted for residential purposes, anf fifteen percent (15%) for commercial, industrial and other than non-agricultura l purposes. |
| PRINCIPAL AUTHOR/S : TUAZON, RODOLFO T. |
| DATE FILED : 1998-07-24 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS : |
| 1. |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 1998-07-30 |
Abstract
Imposes a land conversion tax of ten percent (10%) on all agricultural lands converted for residential purposes, anf fifteen percent (15%) for commercial, industrial and other than non-agricultura l purposes.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.