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2006 SPECIAL SESSION I

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HB 5082 Transportation; dedication of certain state recordation tax revenue to localities. 

Introduced by: Leo C. Wardrup, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Transportation; dedication of certain state recordation tax revenue to localities.  Dedicates an additional $60 million of state recordation tax revenue each year to localities to be used for transportation purposes. Currently, $40 million of state recordation tax revenue is dedicated each year to localities to be used for transportation purposes or for public education. Beginning July 1, 2008, the total combined dedication of $100 million shall be used solely for transportation purposes.  The bill also increases from $40 million to $50 million the amount of state recordation tax revenue that is dedicated to the U.S. Route 58 Corridor Development Fund.  The bill is effective July 1, 2007.


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