Bill > SB302

This bill extends the sunset date for an excise tax on peanuts grown and sold in Virginia for processing. The excise tax, which is levied at a rate of $0.25 per 100 pounds, was originally set to expire on July 1, 2026, but this bill pushes that expiration date back by one year to July 1, 2027. This means the tax will continue to be collected on peanuts intended for processing within the Commonwealth for an additional year, with the understanding that the tax is only applied once to each batch of peanuts.