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2007 SESSION

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HB 3202 Transportation funding; authority to certain localities to impose additional fees therefor, report.

Introduced by: William J. Howell | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Transportation funding and reform.  Provides (i) statewide funding of transportation projects through current funds and additional funds, (ii) authority to the Northern Virginia Transportation Authority and the Hampton Roads Transportation Authority to impose regional fees and taxes for transportation in their respective areas, (iii) authority to each locality embraced by either Authority to impose an additional real property tax on commercial property with the revenues to be used for transportation, and (iv) several administrative and efficiency reforms impacting transportation.  The bill also authorizes the Commonwealth Transportation Board to issue bonds in an aggregate amount not to exceed $3 billion for statewide transportation funding with the debt service on such bonds to be paid from one-third of the annual revenues from the state tax on insurance businesses.


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