AMENDMENT(S) REJECTED BY THE HOUSE

DEL. EBBIN

1. Line 64, introduced

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2. That the provisions of this act shall not become effective until the Commonwealth provides the funding required to completely eliminate the personal property tax on passenger cars, motorcycles, and pickup or panel trucks valued at less than $20,000.

DEL. HULL

2. Line 64, introduced

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2.  That notwithstanding the provisions of this act, the distribution of recordation taxes to cities and counties shall revert to that distribution in effect on July 1, 2006, in any fiscal year if:

1. Actual general fund revenues for a fiscal year, including transfers, are less than the projected general fund revenues, as reported in the general appropriation act in effect at that time, by one-half of one percent or more of the amount of actual general fund revenues for such fiscal year;

2. The general fund revenue forecast provided by the Governor in December pursuant to § 2.1-393 indicates that general fund revenues, excluding transfers, for any fiscal year will be less than five percent greater than general fund revenues for the immediately preceding fiscal year; or

3. The general fund revenue forecast provided by the Governor in December pursuant to § 2.1-393 indicates that total general fund revenues available for appropriation, including transfers, for either of the fiscal years covered by the general appropriation act in effect at that time will be less than the general fund appropriations for such fiscal year or years.

3.  That the provisions of this act shall become effective on July 1, 2007.