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2004 SESSION

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SB 356 Motor Vehicle S. & Use Tax; increased, revenue deposited in Transportation Auth. of Commonwealth.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Transportation authorities of the Commonwealth. Creates a transportation authority for each of the nine current construction districts. The transportation authorities are to be funded from increases in the motor vehicle sales and use tax. The tax is increased from three to five percent for sales of motor vehicles and from four to six percent for the rental of motor vehicles. The transportation authorities are given the responsibility for planning and providing for the transportation needs of the counties and cities embraced by the authority. The transportation authorities may use their share of motor vehicle sales and use tax revenues to acquire or construct transportation facilities, and may issue bonds for such purposes and provide security for bonds with their allocable share of motor vehicle sales and use tax revenues.

The provisions of the bill are effective January 1, 2005.


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