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2003 SESSION
SB 1342 Commonwealth Private Investment Inducement Act of 2003.
Introduced by: Martin E. Williams | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Commonwealth Private Investment Inducement Act of 2003. Dedicates the insurance license tax fee to transportation projects in all localities according to the percentage of such revenues attributable to subscribers who reside in each locality. A portion of these proceeds will finance the issuance of bonds that the bill authorizes for transportation projects in 3 regions of the Commonwealth. These 3 regions are the regions encompassed by (i) Arlington County, Fairfax County, Loudoun County, Prince William County, the City of Alexandria, the City of Fairfax, the City of Falls Church, the City of Manassas, and the City of Manassas Park; (ii) Isle of Wight County, James City County, York County, the City of Chesapeake, the City of Hampton, the City of Newport News, the City of Norfolk, the City of Poquoson, the City of Portsmouth, the City of Suffolk, the City of Virginia Beach, and the City of Williamsburg; (iii) Augusta County, Botetourt County, Frederick County, Montgomery County, Pulaski County, Roanoke County, Rockbridge County, Rockingham County, Shenandoah County, Smyth County, Warren County, Washington County, Wythe County, the City of Bristol, the City of Harrisonburg, the City of Radford, the City of Salem, the City of Staunton, and the City of Winchester. All funds paid from the revenues provided under this act for the 3 regions must be matched by equal or greater funds from private entities, localities, or both.
FULL TEXT
HISTORY
- 01/17/03 Senate: Presented & ordered printed 032029916
- 01/17/03 Senate: Referred to Committee on Transportation
- 02/04/03 Senate: Left in Transportation