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2001 SESSION
SB 1368 Sales and use tax; additional tax in No. VA.
Introduced by: Richard L. Saslaw | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Sales and use tax; additional tax in Eighth Planning District to fund transportation projects. Increases the state sales and use tax by one percent in all cities and counties within the Eighth Planning District. One-half of the revenues from such increase shall be distributed to a regional transportation authority created to address and act upon the transportation needs of such counties and cities. The remainder of the revenues shall be distributed to such counties and cities based on point-of-sale and may only be used for education-related purposes. The additional sales and use tax would be effective January 1, 2003, but is contingent upon (i) approval of the additional tax by a majority of persons voting in a joint referendum of all the cities and counties in the Eighth Planning District on November 6, 2002, and (ii) the passage of legislation by General Assembly creating a regional transportation authority for Northern Virginia.
SUMMARY AS INTRODUCED:
Sales and use tax; additional tax in Eighth Planning District to fund transportation projects. Increases the state sales and use tax by one percent in all cities and counties within the Eighth Planning District. One-half of the revenues from such increase shall be distributed to a regional transportation authority created to address and act upon the transportation needs of such counties and cities. The remainder of the revenues shall be distributed to such counties and cities based on point-of-sale and may only be used for education-related purposes. The additional sales and use tax would be effective January 1, 2003, but is contingent upon (i) approval of the additional tax by a majority of persons voting in a joint referendum of all the cities and counties in the Eighth Planning District on November 6, 2002, and (ii) the passage of legislation by General Assembly creating a regional transportation authority for Northern Virginia.