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2005 SESSION

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HB 1092 Retail Sales and Use Tax; local option increase for transportation and

Introduced by: James M. Scott | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Sales and use tax; optional local tax for transportation and education. Authorizes any county or city located within the Eighth Planning District to levy an additional local sales and use tax at a rate of one percent with at least one-half of the revenues generated from such tax to be used for transportation purposes and the remaining revenue to be used for education purposes. The county or city imposing such a tax must reduce its real estate tax rate so that total real estate tax revenues are reduced by 40 percent of the additional sales tax revenues. The tax shall be adopted by local ordinance, which shall become effective on the later of the first day of a month at least 60 days after its adoption, or the first day of the month after which at least one other such city or county shall have adopted such an ordinance and the total population within the counties or cities having adopted such an ordinance comprises at least 50 percent of the total population of the counties and cities located within the Eighth Planning District.


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