Bill > HB2410

This bill authorizes localities in Virginia to create a special tax classification for boats and watercraft powered exclusively by "green technology" that weigh less than five tons and are not used solely for business purposes. The bill defines green technology as power generation methods that are clean, sustainable, renewable, and cause minimal environmental damage, including paddle or oar propulsion, pedal drive, wind, solar energy, hydroelectricity, electric battery, or electric motor. Under this bill, local governments would have the option to assign a different tax rate or assessment rate to these green technology boats and watercraft compared to other types of personal property. Additionally, the bill exempts such boats and their trailers from standard titling and registration requirements, effectively removing associated fees. This legislation aims to incentivize the use of environmentally friendly watercraft by providing potential tax and administrative benefits to owners of green technology boats.

Budget and Finance

https://lis.virginia.gov/bill-details/20251/HB2410