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2007 SESSION

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SB 830 Special Sales and Use Tax Fund Account of Northern Virginia Transportation Authority; created, etc.

Introduced by: Jeannemarie D. Davis | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Supplemental transportation funding for Northern Virginia.  Permits the counties and cities that are members of the Northern Virginia Transportation Authority to impose additional local taxes and fees to be used by the Authority for transportation projects in the localities comprising the Authority. The additional local option taxes and fees are: (i) an initial registration fee at the time a vehicle is first registered in the county or city by the vehicle owner at the rate of 0.50% of the value of the vehicle; (ii) a retail sales and use tax at the rate of 0.50%; and (iii) a grantor's tax at a rate of $0.05 per $100 of the value of the real estate. All moneys received by the Authority from these additional taxes and fees would be used for the primary benefit of those counties and cities imposing all of the additional taxes and fees.

The membership of the Authority would be altered to provide for two additional members from the House of Delegates, one additional member from the Senate, and a mayor from a town within a county that is a member of the Authority.

The Authority would use all the revenues generated under the bill as follows:

1. The first $50 million in each fiscal year would be distributed to the Washington Metropolitan Area Transit Authority (WMATA) to provide funds to the Authority as may be required under federal law for the payment of certain federal funds to WMATA. The Authority would make the annual distribution to WMATA from such revenues (i) only to the extent required under federal law for the payment of federal funds to WMATA, and (ii) only if the Counties of Arlington and Fairfax and the City of Alexandria are imposing all of the additional local taxes and fees authorized under the bill;

2. The next $25 million received in each fiscal year would be distributed to the Virginia Railway Express for capital projects or operating costs directly relating to transportation by rail, but only if Prince William County is imposing all of the additional local taxes and fees authorized under the bill; and

3. All other revenues would be used for transportation projects for the localities embraced by the Authority as determined by the Authority.


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