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2002 SESSION

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SB 668 Eastern Va. and No.Va. Regional Transp. Program Bond Acts of 2002.

Introduced by: Martin E. Williams | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Regional sales tax referenda in Northern Virginia and Hampton Roads for transportation projects. Requires that referenda be held in Northern Virginia and in Hampton Roads in November 2002 on the questions of increasing the sales and use tax by one-half of one percent and one percent in each regionrespectively, for transportation purposes in those regions. A favorable vote on such question in Hampton Roads (counties of Isle of Wight, James City, and York, and the cities of Chesapeake, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and Williamsburg) would authorize the Hampton Roads Planning District Commission to issue debt in a principal amount not exceeding $5,990,000,000 for specified transportation projects, and to pay the interest and principal of such debt with the additional sales tax revenues. A favorable vote on the question in Northern Virginia (the counties of Arlington, Fairfax, Loudoun, and Prince William, and the cities of Alexandria, Fairfax, Falls Church, Manassas, and Manassas Park) would authorize the Northern Virginia Transportation Authority to issue debt in a principal amount not exceeding $2,800,000,000 for specified transportation projects, and to pay the interest and principal of such debt with the additional sales tax revenues.


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