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2002 SESSION
HB 1018 Local income tax; increase in No. Va. for educu. and transportation.
Introduced by: James M. Scott | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Local income tax. Provides that imposition of the local income tax permitted in certain localities after a local referendum may be set forth on the referendum ballot in one-quarter percent increments not to exceed one percent. The local tax shall be used for (i) transportation projects for certain localities that are part of a plan approved in December 1999 by a transportation council consisting of state and local elected officials; and/or (ii) public education purposes including the construction of, renovation of, technology for and debt service for public schools. However, at least 55 percent of revenues from the local income tax must be expended for transportation purposes. The taxing authority expires on July 1, 2004, if no locality has imposed the tax by that date. The bill repeals current law that restricts any such local income tax to a duration of five years.
FULL TEXT
HISTORY
- 01/09/02 House: Presented & ordered printed, prefiled 01/09/02 024071928
- 01/09/02 House: Referred to Committee on Finance
- 01/21/02 House: Assigned to Finance sub-committee: 2
- 02/09/02 House: Continued to 2003 in Finance (21-Y 1-N)