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2003 SESSION

• | print version

SB 704 Sales tax on motor fuels.

Introduced by: Kevin G. Miller | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Sales tax on motor fuels. Provides for a statewide sales tax beginning July 1, 2004, on the sale of motor fuels in the Commonwealth. The tax would be imposed at the rate of 4.5% of the retail price of motor fuels sold in the Commonwealth and would be added to the per gallon or per unit price of motor fuel. All revenues generated and collected from the tax would be deposited into the Transportation Trust Fund of the state treasury and distributed in the manner currently provided for the 0.5% sales and use tax enacted by the 1986 Special Session of the General Assembly.

Current law provides for a 2.0% sales tax on motor fuels in certain localities in the Commonwealth. The sales tax on motor fuels in these localities would increase to 6.5%.

FULL TEXT

• 01/08/03  Senate: Presented & ordered printed, prefiled 11/19/02 038988476  pdf | impact statement

HISTORY

• 01/08/03  Senate: Presented & ordered printed, prefiled 11/19/02 038988476
• 01/08/03  Senate: Referred to Committee on Finance
• 01/30/03  Senate: Failed to report (defeated) in Finance (2-Y 12-N)