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2020 SESSION

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SB 1038 Hampton Roads Regional Transit Program and Fund; created, transit funding.

Introduced by: L. Louise Lucas | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

Hampton Roads Regional Transit Program. Creates the Hampton Roads Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.06 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The bill also dedicates $20 million of revenues from existing recordation taxes to funding the program. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. Use of the funds would require a two-thirds vote of the localities in which the new taxes were imposed. The bill also includes a local maintenance of effort of public transportation funding. This bill is identical to HB 1726.

SUMMARY AS PASSED:

Hampton Roads Regional Transit Program. Creates the Hampton Roads Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.06 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The bill also dedicates $20 million of revenues from existing recordation taxes to funding the program. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. This bill is identical to HB 1726.

SUMMARY AS PASSED SENATE:

Hampton Roads Transportation District Regional Transit Program. Creates the Hampton Roads Transportation District Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.15 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill.

SUMMARY AS INTRODUCED:

Hampton Roads Transportation District Regional Transit Program. Creates the Hampton Roads Transportation District Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional regional motor vehicle fuels sales tax at a rate of 1.9 percent of the wholesale cost of unleaded gasoline and 0.9 percent of the wholesale cost of diesel fuel. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill.